Podcasts about money out

This Podcast Is Episode 553, And It's About How To Avoid Year-End Construction Bookkeeping Chaos As the year comes to a close, it's important to start thinking about your bookkeeping tasks to ensure a smooth transition into the new year. Deadlines are fast approaching, but it doesn't have to be stressful.    Have you given your bookkeeper, wife, partner, accountant, or tax accountant the information needed to complete your reports? Accountants need good information to create detailed reports and save money on your taxes.   Here is where the expression "Garbage In Equals Garbage Out" comes into play. It is impossible to create Job Costing Reports when all anyone knows is the deposit amount on the bank statement.     It's the Mad Dash To The End Of The Year as a contractor recently described their Year End Madness to prepare his documents for the Tax Accountant. Are you in this cycle? I have great news for you - it is preventable. 1. Review your accounts:  Make sure all your accounts are reconciled and up-to-date. This includes bank accounts, credit cards, and any other accounts.  In Construction Accounting, not everything is an expense. Not every item, tool, material, or customer enters the Chart of Accounts. In some cases, Class Tracking is helpful, but most of the time, it is used to make up for a poor Chart of Accounts or as a "workaround" for an accounting product not designed to have Job Costing Reports or Cost Of Goods Sold. Giving your bookkeeper only your bank statements and saying "Fix It" – I Want Job Costing Reports, I Want To Know Details is not enough. Doing it the way you have always done it – expecting a different result isn't how it works. 2. Review your files: Go through your year's costs and ensure they are all properly categorized. This will help you with your tax reporting and better understand where your money is going.  One of the most overwhelming parts of the end of the financial year is finding all the invoices, receipts, and reports you need to file your taxes correctly. Pay attention to how easy it was—or wasn't—to find what you needed this past year. Did you have to search 15 different places for all your receipts? Did you have a combination of online and physical invoices? Did you have clearly labeled folders for everything? Did you leave everything for the last minute? If you search high and low for every piece of paper you need, you might want to consider revising your paperwork so it's easier and less time-consuming to manage. Can you keep track of everything through software and apps? Is there technology or equipment that can help you? Is it worth investing in a filing cabinet? The effort you put now into sorting your paperwork will pay off hugely every year when you can quickly and easily find all the information you need. Let's face it; you'll come up against the end of the financial year every year, so you may as well be systematic about it. 3. Collect your receipts: Ensure you have all your receipts from the year. This includes receipts for business expenses, charitable donations, and any other tax-deductible expenses. Every missed receipt that is a business expense is a missed deduction. Bookkeeping is all about tracking the money. Money In, Money Out is just following the checkbooks. Accounting is entering into an Accounting System that creates a Profit and Loss and Balance Sheet for the Tax Accountant to do the Annual Taxes. (Every successful contractor should have a Tax Accountant do their annual tax return) 4. Reflect on your year: The end of the financial year is a perfect time to reflect on how the past year went. Celebrate the big successes, but remember to focus on other victories. Even if you didn't meet your financial targets, did you survive a particularly tough year? Did you manage to pivot your construction business and try a new model? Did you take some risks and learn from them? Did you grow your business or expand your offerings? It's great to have goals for each year and celebrate when you achieve them, but it's also essential to look at where things didn't go according to plan and how you grew from those situations. You may need to refine your business plan if you're not meeting your financial targets or rethink how you arrive at your goals in the first place. Do this before you start planning the year so you can revise your strategies in the future. 5. Plan for the new year: Take some time to plan for the new year. This includes setting goals, creating a budget, and thinking about any changes you may need to make to your bookkeeping processes.  Now that you've reflected on what went well and what went sideways, you can better plan for next year. Research upcoming events and schedule your marketing calendar. Plan to address slow times or busy periods. If you didn't meet your financial targets last year, either change how you set your goals or your strategies for achieving them. At Fast Easy Accounting, we have an entire department, The Project Management Department, that questions every bit of our Contractors Bookkeeping System every day and continually finds new and better ways to improve it and make it more valuable to Contractors like you no matter where you are in the USA Including Alaska and Hawaii.  For clients, we added a document management system that links with many banks and credit card companies across the country (adding more all the time). We still use our original Document Management System behind the scenes. The two companies have figured out how to work together to benefit us and our clients. Change is not always easy, but we are so glad we did. The same applies to you, the construction business owner. As you figure out ways to be more efficient, better pricing, and prove a better product and service, your cash flow and profits will increase massively, which means more money in the bank to operate and grow your Construction Company and more freedom to do the things you want to do with your life! Final thoughts By following these tips, you can ensure that your end-of-the-year bookkeeping is completed accurately and efficiently, giving you a head start for the new year. We are also here to help. We are not here to beat up on you for "How You Have Done It." You know it's messy and missing stuff. We know it, too, and we want to help figure out the gaps.  PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com  

Segment 1 – How Will the Bank  Failures Affect the Housing MarketWe air the Real Estate Voice show every  Saturday, if you cannot listen to the whole show, it is available on Barb's site:  BarbHasTheBuyers.com, or search Barb &  most podcasts like IHeart RadioEvery week the Real Estate Voice covers excellent information about the housing market and one of their most significant assets – their home.  Barb What will we be covering today?• How Will the Bank Failures Affect  the Housing Market• How to Avoid Red Flags on a Home Inspection When Selling Your Home• Top Agent Hiring Mistakes• How to Get Your House Ready for  Sale - Hot New Listings Barb, Recently Two Banks Failed causing a run on the bank creating lots of financial uncertainty in the market. Some people wonder if history is repeating itself with and crisis like 2008. What impact will the bank failures have on this housing market?As to Whether this is like the 2008  Mortgage Meltdown? Answer = NO1. 2006-2008 people got mortgages they could not afford at teaser rates.2. Rates adjusted – Stopped paying those mortgages3. Because it was so widespread  it affected the entire marketChanges Since:1. Law REQUIRES borrower to qualify at the ultimate rate2. Lenders could face jail time for compliance.3. Market prices increase = people have equityRates dropped nearly ½ percent  Since Bank Failure• People are HOPEFUL fed will NOT raise rates this month• Buyers purchase on House  Payment – not the sticker priceFed is Bailing Out the Silicon Valley Bank Difference this Time: FED is going to sell  off the banks assets for  Repayment• Wipes Out the Banks Stock Value• No Executive Gets Paid• Depositors are made whole by Govt  Money PrintingWhy Did This Bank Fail?• Depositors / Tech Companies  running out of $• Weak Bank Investments Not  Covered• An Analyst Short Sold it Causing a  Run on the Bank• Depositors all Went to Get their  Money Out...Oops Not There!• In 2020 when the Pandemic hit – the FED:- Reduced the Bank Reserves  Requirement to ZERO- Pandemic is over – NO Change in  Reserve RequirementWho banks at this Silicon Valley Bank - Open Door Who Lost $1 Billion Last QuarterAffect on Housing Market – Lower  Mortgage Rates Initially• If Fed does not raise the stock  market may like it• The Housing Market will too43 % of Home Buyers are Millennial or Gen (25-51) They Have Never Seen Rates Above 3.5% I think this will all normalize very quickly But I don't think we will see rates at 3%  again in our lifetimesWhat Home Sellers Should Expect:1. Bidding Wars Days Have Ended2. Expect Longer Days on the Market3. Expect Buyers to be Pickier Than  Ever – Home Preparation is KeyIf You Are Thinking of Making a Move in the  Next 2-6 Months and Want a Free Consultation: Go To Barb Has The Buyers.com Button in the Center:  Find My BuyerIf You Are Planning to Move Later this Year and want one of our Free Reports that will help  you Prepare to Sell for the Most Money Like the report entitled: “The Top 7 Tips To Sell Your House Fast and for  Top Dollar” Go To Barb Has The Buyers.com Button at Top:  Free Reports Or Give us a Call at 719 301 3900 ask for BarbYou are listening to the Real Estate Voice  with Barb Schlinker of Your Home Sold Guaranteed Realty, if you are thinking of making a move Barb at 719 301 3900 or visit  BarbHasTheBuyers.com When we come back.... we will be discussing: Home Inspection Issues To Avoid  When Selling Your Home#barbschlinker #coloradosprings #yourhomesoldguaranteedrealtycolorado #barbhasthebuyers #therealestatevoice

In this episode, Rob shares an example of the fact that the MIMO (Money In, Money Out) principle works. Proof positive that it is possible to make these deals. He explains how this golden goose of property investment works and provides insight into how you can also take advantage of these opportunities.KEY TAKEAWAYS Rob´s first MIMO experience was as a result of a Buy Refurb Refinance (BRR) project. You do not have to necessarily get all of the cash you put in back, for a deal to be worth doing. Building strong relationships with agents helps you to be told about the best deals. BEST MOMENTS‘MIMO or money in, money out works.'‘If you are in it for the long run as well, then chances are, over time, inflation is going to increase the asset price.'‘Know the right people and be ready to strike when you can get the deals.'ABOUT THE HOST Rob Smallbone, the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.Buckle up, sit tight, and enjoy the ride that is life.BOOKS Buy To Let: How to Get Started = https://amzn.to/3genjle  101 Top Property Tips = https://amzn.to/2NxuAQL Property FAQs = https://amzn.to/3MWfcL4WEBSITEwww.tpnpodcast.com SHOP www.tpnpodcast.com/shop SOCIAL MEDIA  Instagram - https://www.instagram.com/thepropertynomadspodcast/  Facebook - https://www.facebook.com/ThePropertyNomadsPodcast  YouTube - https://www.youtube.com/channel/UCejNnh8OEUXSrdgFDFraWxgPatreon - https://www.patreon.com/tpnpodcastPODCAST  The Property Nomads Podcast:  I-Tunes = apple.co/3bHNn5G  Stitcher = bit.ly/3cFQVqe Spotify = spoti.fi/2XaZliP uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcastSee omnystudio.com/listener for privacy information.

Another sad story, this time... A retired 57 year old man was conned into HyperVerse by a friend who is no longer helping him, talking to him or having anything to do with Colin Veeran who is from South Africa. Colin has lost 320,000 Rand ($18k USD)Are you trying to recover your funds as well? Are you willing to come on a zoom meeting with me and tell me your story to help others falling for the new rinse and repeat HyperNation MLM Ponzi Scheme, CONTACT me using the details below.TIME STAMPS / CHAPTERSIntroduction 00:00:00The Podcast 00:08:00Lost 320,000 Rand ($18k USD) 00:15:00Latest Claims from HyperVerse 00:16:00Mike Lucas 00:21:00Withdraw Feasibility 00:23:00Take Legal Action 00:29:00New Investment Opportunities 00:35:55Riki Tainui - Multi-level Marketer 00:38:00Hanging onto Hope 00:42:20Is HyperNation a Ponzi Scheme 00:49:30Retirement Money Gone 00:52:00Suicidal Thoughts 00:53:00Just wants his Money Out 00:56:00Can God help 01:00:00Helping Others 01:01:00Support Group 01:02:00Instagram get your Money Back Scammers 01:05:00Loneliness  01:10:00Conclusion 01:12:00The latest video is "Interview with Pinakee Naik and Yvonne Henry for Aussies, Kiwis, and everyone."https://odysee.com/@dehek:6/Interview-with-Pinakee-Nait-and-Yvonne-Henry-for-Aussies,-Kiwis,-and-everyone:8 Latest update on the recovery plan from HyperVerse - they plan to commence the payout of 1x this month.It's impossible for that to happen, HyperNation doesn't want anything to do with the debt of HyperVerse it is a different entity. As Whitney Smart says HyperFund, HyperVerse and HyperNation are all hedge funds and all under the same umbrella as Hypertech group.HyperNation has stolen the sales team stripped HyperVerse of all its assets they are now doing a rinse and repeat with HyperNation.If you can give me any leads, images or videos, helping me track down any information about these people please submit it via DANNY : DE HEK website's Contact https://www.dehek.com/contact/ page (anonymously)Support the show

A businesses' financial reports should contain accurate information and be easy to understand your business Money In, and Money Out.  With four of the worst financial systems seen this year, Linda Valencia and Jody Catalanello from Mosaic Management Group join Susan to talk about what your practice needs from your financial statements, as well as what your relationship with your CPA should look like. Practice accounting systems are NOT rocket science and should not be mysterious, withheld or difficult. Episode Highlights Setting yourself up for accounting success Your Dream CPA Ensuring correct financial reports Back to Back Accountability  Quotes “When I hear my accounting software is a mess, I ask, which one?”  “This year I have seen 4 of the worst Quickbooks files I have ever seen.” “Checks and check stamps, they are ripe for someone to take advantage of.”  “I never recommend using a debit card.”  “The tax stuff, that is why your CPA is premium.”  “The dentist giggled with excitement from seeing the changes and finally understanding their QuickBooks.”  “Your accountant needs to know you, your goals, your vision, where you want to go and help support you.”  “If something doesn't look right, or feel right, make some phone calls and ask some questions.”  “It is never too late to get a scope of work letter for this year from your CPA.”  “I cannot help if you do not call.”    Links & Resources  Linda: linda@mosaicmanagementgroup.com   Jody: jody@mosaicmanagementgroup.com   https://www.mosaicmanagementgroup.com/  -- Susan's Website:  https://SusanGunnSolutions.com  (sign up for the newsletter) SGS Phone:  888-994-3167 Book Money In, Money Out: Financial Organization In Your Practice  Book Getting The Most Out of QuickBooks In Your Practice   Book Advanced QuickBooks In Your Practice   QuickBooks Extreme Makeover Ask The Expert Online Consultation 

There is an easy way and a hard way to explain what cash flow is – the easiest way that I know is to help you create a visual in your mind of what cash flow looks like. Cash essentially flows in and out of your bank account over a period of time, much like this circle below.  Money coming in is of course very straightforward... it's the money going out that I want you to pay particular attention to.  When I say Money Out it can included two things: Money that is gone (has actually left) and Money that is technically trapped – meaning, it's still stuck in your business and thus can be unlocked and put into your bank account Knowing that money is trapped and can be unlocked is extremely powerful because you now know where you need to focus your attention. Unlike profit, cash position estimates (or forecasts), cash flow is 100% certain – there is no ambiguity or doubt. If you calculate it correctly, you will know how much money went in to your business during a period of time, how much went out, and WHERE cash got trapped. And this is why it doesn't make sense to waste a lot of time on cash flow forecasting – at best it is only a guess about where you might be in the future – if you rely solely on a forecast, you are likely to waste time, overlook stuff that is really critical, AND you will not have enough time left over to fix the problems that created poor cash flow in the first place. Cash flow should never be confused with profit, your bank balance or an estimate of your cash position in the future. Cash and profit are components of cash flow but they are not the whole picture.  If you only look at profit or your bank balance, you will miss at least 60% of the overall picture of what happened to your cash flow and why. Cash flow tracks the movement of cash through your business as it operates.  The most important thing to remember is that cash flow is certain – it's the net difference between cash inflows and outflows over a period of time. A cash forecast (also known as a cash position estimate) is a best guess about what might happen.  Many people attempt to do this using an excel spreadsheet – unfortunately, these are usually not complete or accurate enough to forecast your cash position with a high degree of accuracy. These forecasts are also often not objective and they rarely help you pinpoint the best places to unlock cash quickly (or give you the strategies that you need to do it effectively). A Highly Visual Example of Cash Flow I want to give you a simple example that will help you to keep the difference between cash, cash position estimate (or cash forecast), and cash flow straight in your mind... Imagine you are a farmer and the land where you farm is in a drought.  It hasn't rained in weeks and you are starting to get worried that you might lose your entire crop.  Now I have an important question for all of you... Is it more valuable to know: where an underground well is on your land and how much water is in it OR that there is no rain in your rain gauge hanging outside your kitchen window OR that the Farmer's Almanac says it should rain 20cm sometime this month?  The answer to my question is pretty obvious, isn't it? Cash flow is a certainty which is why knowing how much cash is trapped in your business (so you can unlock it and put it in your bank account) should be your #1 focus.  Cash flow is very similar to my analogy about finding and tapping into an underground well of water to irrigate your crop.  Cash flow analysis is the equivalent to finding, measuring, and tapping into that well. Whereas cash (i.e your bank balance) is more akin to seeing how much water you have on the ground (or in your rain gauge) right now and a cash position estimate (or forecast) is pretty similar to trying to consult the Farmer's Almanac to predict when it might rain.  At best, the Almanac is just a guess about what might happen sometime in the future. Penny and Ernest When you look at your Profit and Loss and Balance Sheet, essentially what you are looking at is a summary of: All the money that was collected and WILL BE collected in the future (even though there is no certainty about the timings of those collections) and All the money that was spent and WILL BE spent in the future ((even though there is no certainty about the timings of those outgoings) Financial statements in many ways are like a running total of EVERYTHING that has happened and a lot of stuff that has yet to happen. Cash flow is a completely different beast.  It is a certainty.  There is no ambiguity – either the money was spent or collected (or it wasn't). That is why to get to cash flow, we have to essentially back out all of the uncertain and speculative stuff to bring us back to JUST the amount that Penny and Ernest have run. If Ernest has run further than Penny, the difference between them will be your positive cash flow.  If Penny has outrun Ernest, then you have negative cash flow, which means your bank balance has gone down during the period and you need to focus on unlocking more cash and getting it into your bank account to keep your business (or your personal finances afloat). Financial Foreplay® Highlights: Cash flow is a certainty – focusing on cash flow is far more powerful than spending time running endless forecasting scenarios that may or may not come to fruition Money can move out of your business in two different ways – it either leaves your bank account completely or it can get trapped, which means that you can pinpoint, unlock it, and put it in your bank account Cash flow is actually very simple – it's just the amount that your bank account has gone up or down by in a period of time If you can visualize every transaction as fuelling the forward movement of either Penny or Ernest (or them standing still), you can easily start to visualize where your cash flow position is at and what you need to do in order to ensure that Ernest always runs faster and further than Penny.  

This week on your Dental Top 5 Podcast, your host Amanda Hill is talking with Barb Stackhouse about the Top 5 ways to Practice Profit First. We know that phrasing might give you pause, but just hear Barb and Amanda out!   Episode Highlights Barb's Journey Profit First Book and Coming Soon: Profit First For Dentists Barb's Top 5 Quotes   “When you bring added value to the practice, you also increase what you get paid.”   “Money in, Money Out.”   “When we have less in our account, we spend less.”    “Even reducing your expenses by 1% makes a huge difference.”    “I am a big fan of having systems in place.”   “When everyone on the team knows what to do, you are not dependent on a person, you are dependent on a system.”    Links   www.moretolife.dental    More Your Dental Top 5 Episodes: https://www.ataleoftwohygienists.com/dentaltop5/    Amanda's email: amandahillrdh@gmail.com  

I’m always interested in how offices are handling the end of the year, COVID and other issues. Carrie Webber is the CEO of Jameson Management (one of the largest dental consulting firms in the country) and shared how Jameson offices are handling these situations. We talked about how her coaches had to switch into emergency mode while also trying to stay ahead of emerging problems. Leadership is a recurring theme for 2020 since so much crisis management was needed. Carrie and I round out the conversation with a very candid talk about how to help your colleagues that are not mentally in a good place.    Episode 65 Highlights  Leading through crisis Shifting strategy and goals  Turnover and teams  How Training has become ‘gamified’ When sadness turns into something more   Quotes   “In any kind of crisis someone has to take the lead and step up to help figure things out and move forward.”  “Your end of year this year is not going to be what it was going to be.” “This is my favorite, give me the popcorn, let's read the Facebook groups and see who has been leading strong and who has had their head in the sand!”  “When we stay connected with our team and communicate with them it can help us navigate those painful waters and come back together healthier.” “A danger zone for dentists is how isolating (dentistry) can be." “You have to hire smart.” “You cannot skimp on this - spend some money on training your new team members.” “Maintain your whelm.”  “There is a responsibility to just listen.”    Resources from this episode:  Jameson Management https://jmsn.com/ Grow Virtual Learning  https://grow.jmsn.com/ Jameson podcast: Jameson Management and Marketing ADA's Mental Health Resources   Cathy Jameson's book: Collect What You Produce - Jameson Susan's book: Money In, Money Out: $en$ible Financial Organization In Your Practice   Links  **If you like the show then I’d appreciate a good rating. Tell your friends. Even podcasters ask for referrals!** Teresa’s Website- https://www.odysseymgmt.com/ (sign up for my newsletter!) Teresa’s Book Moving Your Patients to Yes! Easy Insurance Conversations http://odysseymgmt.corecommerce.com/Book/ (use ‘newsletter’ for $3 off

Please Leave a Review! Continuing A Tale of Two Hygienist' series on workplace culture, Michelle had the fortune to speak with an expert when it comes to figuring out the code of ethics that works best for each practice. Susan Gunn is a speaker, author and consultant specializing in fraud examination. A financial organization expert, she wants to help business owners understand and protect their practices. In addition, Susan is the host of the Money In, Money Out podcast, where she speaks with a variety of guests on workplace financial organization.   In this episode, Susan explains what distinguishes ethics from legality, discusses the value of leading by example, and has the listeners ask themselves: who do you want to be known as?     EPISODE HIGHLIGHTS:   Interview starts: 13:11   - The workplace experience that prompted Susan to get certified in fraud examination.   - What really are ethics?   - Looking at the grey area of legal yet unethical behavior.   - What to do when you see a colleague engaging in unethical behavior online.   - How social and workplace culture shape our ethical codes.   - Why Susan won't mince words over employees who steal from their practice.   - The value of a code of ethics over a mission statement.   - What you should ask yourself before posting on Facebook or social media.     QUOTES:   “Sometimes we just need a reminder of how to be ethical.”   “Ethics is our own personal choice. It's not a personality trait.”   “Our actions speak way louder than our words, but some of the words I've seen on social media have been blared through to make their points.”   “An ethically compromised culture encourages participants to compromise their ethics.”   “No one forces you to be on the path that you're on.” LINKS: Susan's homepage - https://susangunnsolutions.com/   Money In, Money Out podcast - https://susangunnsolutions.com/podcast/   Money In, Money Out book - https://susangunnsolutions.com/product/money-in-money-out-enible-financial-organization-in-your-practice/     THIS EPISODE COUNTS FOR CE! - but read the disclaimer below as it might not count for your state. Go here to take the test and get your CE Credit!   A Tale of Two Hygienists homepage - https://ataleoftwohygienists.com/     AToTH on Facebook - https://www.facebook.com/aTaleOfTwoHygienists/     AToTH on Instagram - https://www.instagram.com/ataleoftwohygienists     AToTH on LinkedIn - https://www.linkedin.com/company/atoth/?originalSubdomain=ca  

Please Leave a Review! Continuing A Tale of Two Hygienist’ series on workplace culture, Michelle had the fortune to speak with an expert when it comes to figuring out the code of ethics that works best for each practice. Susan Gunn is a speaker, author and consultant specializing in fraud examination. A financial organization expert, she wants to help business owners understand and protect their practices. In addition, Susan is the host of the Money In, Money Out podcast, where she speaks with a variety of guests on workplace financial organization.   In this episode, Susan explains what distinguishes ethics from legality, discusses the value of leading by example, and has the listeners ask themselves: who do you want to be known as?     EPISODE HIGHLIGHTS:   Interview starts: 13:11   - The workplace experience that prompted Susan to get certified in fraud examination.   - What really are ethics?   - Looking at the grey area of legal yet unethical behavior.   - What to do when you see a colleague engaging in unethical behavior online.   - How social and workplace culture shape our ethical codes.   - Why Susan won’t mince words over employees who steal from their practice.   - The value of a code of ethics over a mission statement.   - What you should ask yourself before posting on Facebook or social media.     QUOTES:   “Sometimes we just need a reminder of how to be ethical.”   “Ethics is our own personal choice. It’s not a personality trait.”   “Our actions speak way louder than our words, but some of the words I’ve seen on social media have been blared through to make their points.”   “An ethically compromised culture encourages participants to compromise their ethics.”   “No one forces you to be on the path that you’re on.” LINKS: Susan’s homepage - https://susangunnsolutions.com/   Money In, Money Out podcast - https://susangunnsolutions.com/podcast/   Money In, Money Out book - https://susangunnsolutions.com/product/money-in-money-out-enible-financial-organization-in-your-practice/     THIS EPISODE COUNTS FOR CE! - but read the disclaimer below as it might not count for your state. Go here to take the test and get your CE Credit!   A Tale of Two Hygienists homepage - https://ataleoftwohygienists.com/     AToTH on Facebook - https://www.facebook.com/aTaleOfTwoHygienists/     AToTH on Instagram - https://www.instagram.com/ataleoftwohygienists     AToTH on LinkedIn - https://www.linkedin.com/company/atoth/?originalSubdomain=ca  

The average business owner's brain these past few weeks has been working overtime trying to figure out what they need to do. In healthcare (dentists, veterinarians, chiropractors, and medical practices), that list has multiplied. Unlike others in that list, most dental practices have been mandated to close during this COVID-19 crisis.  Hear some up-to-date information regarding unemployment, PPP and EIDL in regard to a few observations. And, do you need something to focus on? This week's guest, Janice Janssen of Global Team Solutions and I talk about office protocols to review and give you four things you can consider homework until the next episode of Money In, Money Out. Then listen to the end for an amazing offer for two of Susan's books, Getting The Most Out Of QuickBooks In Your Practice 2020 and Money In, Money Out .       Janice Janssen's contact info:  www.GTSGurus.com Susan Gunn's contact info:  www.SusanGunnSolutions.com  

"... You've just crossed over into the Twilight Zone..."  Much has changed since Susan & Kate talked last week. This week, many dental practices are being requested to shut down. What are the things they need to consider in shutting down?  In regards to the practice, here are a few things to consider. And as a bonus, here are a few things to consider personally.  Click on the link to download a pdf checklist for both the practice and personal things to consider. Money In, Money Out is available on Amazon. For Kate's help, thewillefordgroup.com   770-552-8500 For Susan's help, susangunnsolutions.com   888-994-3167 Be sure to sign up for my newsletter!  Thanks for listening!   

Doom and gloom. Gloom and doom. Susan launches the Money In, Money Out podcast series in a very unprecedented time. Joined by Guest Kate Willeford, CPA, they both offer some great tips to consider these next few weeks for your practice. Cash flow Financial savings Line of credit Paying employees Federal tax filings Employee travel Stock market Business interruption insurance Remote access to your practice For sanity's sake Money In, Money Out is available on Amazon. For Kate's help, thewillefordgroup.com   770-552-8500 For Susan's help, susangunnsolutions.com   888-994-3167 Be sure to sign up for my newsletter!  Thank you for listening! 

⁩#EchoChamber this week reviews 'For Love or Money' which stars Robert Kazinsky⁩, Samantha Barks⁩, ⁦Rachel Hurd-Wood⁩, Tony Way⁩ & ⁦Ivan Kaye.⁩ We also had a great chat with the films director Mark Murphy, who was crazy friendly. So make sure you listen! This week we have: For Love or Money: An Unromantic Comedy Release Date: 8 July 2019 Director: Mark Murphy Cast: Robert Kazinsky, Samantha Barks, Rachel Hurd-Wood, Tony Way, Ivan Kaye & Anna Chancellor Credit: Goldfinch, Solar Productions, The Movie Partnership Genre: Comedy Running Time: 95 min Cert: 15 ------------ ***For Love or Money*** Out on 8th July Visit the movies Twitter Visit Mark's Twitter Visit the movies Facebook Visit the movies Instagram ------------ ***2 for 1 Rocketman Tickets*** Paramount Pictures UK have partnered with Picturehouse, Empire and Cineworld cinemas to offer 2 for 1 Rocketman tickets from 5th-7th July. Visit seeitfirst.com Enter code: PRIDE19 Click here for the Stone Wall Uprising story. ------------ *(Music) 'You Got Me' (ft. Erykah Badu) by The Roots – 1999

My guest today is Susan Gunn, CFE. That’s short for Certified Fraud Examiner. Our talk today isn’t all about fraud though. We talk about money, receivables and why ethics is an issue today. Susan is a prolific author and sought-after speaker in the dental industry. She’s one of my top financial go-to persons so keep her information handy! A couple of high points from our conversation: Hear what Susan and I both think about EFTs (electronic fund transfers). Her take on it comes from a Quickbooks and accounting point of view while I tackle the workload issues. Fraud in our industry is more widespread than you think. If you ask any speaker/consultant they’ll tell you reported numbers are low. Why is that? What do you do when you spot it? What does ethics have to do with dentistry? How often do Susan and Teresa hear crazy ethical questions? Often. We’ll describe different scenarios so you can be on the lookout. What’s this trend of zero-ing out fee schedules? We shake our head at this all too common phenomena. If you give employee benefits, are you reporting it correctly? Can it come back to bite you? We transition into one of Susan’s older books about caregiving. Whatever stage of life you’re in it’s applicable. Do you have a succession plan for when a key player like a manager or even the doctor pass away? Here’s how to put that in motion.   Resource Links: Susan’s books:Money In, Money Out: : $en$ible Financial Organization In Your Practice Matters Of The Heart: A Journey in Caring For Aging Loved Ones How to find Susan:Susan’s company on Facebook Susan on Twitter Susan on LinkedIn

May 19, 2019 | Turnaround Time - Money In, Money Out by Topeka Bible Church

This Podcast Is Episode Number 0312, And It Will Be About Job Costing For Small Construction Companies - The Key To Profitability  Job Costing, in its simplest terms, links the money you spent on a job against the money you received to do a particular job. It is the process of tracking all the costs related to a project to determine its profitability. A common misconception is that Job Costing is only for large contractors with a dozen employees. Since keeping track of all costs and expenses involves a lot of additional work for contractors and field workers, and most construction company owners do not see an immediate benefit, some contracting businesses still haven’t implemented Job Costing procedures despite the financial risks. In Construction Accounting, there are two types of Cost of Goods Sold (COGS) – Direct Construction Costs and Indirect Construction Costs. Both are equally important in generating useful Job Costing Reports.   (Everything that is not Overhead or Other Income and Expense falls under Indirect Construction Costs) With this in mind, it is crucial to establish a Job Costing Library and understand the value of investing your time, energy, and resources to build and maintain one. Knowing in advance which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round. The key to a useful bid is having accurate job costs. Your estimator needs access to the past job histories to accurately calculate the construction costs. Contractors with annual sales volume under $5,000,000 are not likely to have a $100,000+ a year professional estimator on staff so do not expect them to be 100% accurate.  The important thing is to get the final job costs as close as possible to the project estimate and budget. The only differences between your bid and the finished project should be overhead and profit. Estimates Vs Actual Reports Money Out – what you thought the job would cost and what it did cost Money In – how much you collected The difference between Money In and Money Out Weighted Average Of Indirect Costs And Overhead Next, you need to calculate the weighted average of Indirect Costs and Overhead, ignore Indirect Income and Expense as it has no bearing on Job Cost Calculations, to determine a metric you can use to allocate those costs to find the fully burdened Job Cost. Example: Job 001 Money In $1,000 Money Out $500 Difference $500 Annual Sales $100,000 Annual Indirect Construction Costs $20,000 Annual Overhead $10,000 Job 001 = 1% Of Annual Indirect Construction Costs $200, ($20,000 X 1%) Job 001 = 1% Of Annual Overhead $100, ($10,000 X 1%) Job 001 = Burden $300 ($200 + $100) Job 001 = Profit $200 (Money In $1,000 - Money Out $500 - Burden $300) With this information, you can create more accurate quotes when you bid on future jobs. Job Costing will help you identify the most and least profitable areas of your construction company and most profitable clients (and projects) and outsource or subcontract the less productive aspects of your contracting company. If your construction company is not paying you an owner's salary, what it would cost to replace you, and at least 15% return on your investment then you need to rethink the intrinsic value of your Construction Accounting System. Over to you: Over to us: Our Account-based Job Costing and Job Profitability Reporting option is the best value for contractors working on short projects that last between one hour and two weeks and do not need Estimates vs. Actuals report. The Job Costing and Job Profitability Reports are based upon the direct and indirect cost codes in the Chart of Accounts module we use to set up your QuickBooks for Contractors file, which is based upon the type of construction your company performs. Item-based Job Costing and Job Profitability Reporting is more comprehensive and recommended to contractors working on longer projects like residential remodelers, land developers, and spec home builders. This option is based upon direct and indirect cost codes in the Chart of Accounts module we use to set up QuickBooks for contractors and we include data from the Items List with breakouts for Labor, Material, Other Charges, and Subcontractor costs. In conclusion: Job Costing is a lot of work but the results are worth it. It requires a constant balancing act between profitability and competitiveness. Knowing how much profit you made on your last job will make you earn more on the next one. Thus, mastering Job Costing is critical to your business.    About The Author: 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. Check out our Contractor Success Map Podcast on iTunes.  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? When You Become A Client - Then we can tap into our resources of knowledge and strategy banks. We use the reports hidden in your QuickBooks in order to diagnose and understand your construction business and develop plans and help you implement a path to success for you and you alone because every contractor has unique Strengths, Weaknesses, Opportunities and Threats (S.W.O.T. Analysis) that when understood can lead to a Strategic Roadmap which cannot help but make a lot of money. We Remove Contractor's Unique Paperwork Frustrations    

Good day everyone! Today we are delving into the concept of the credit card. Is it a friend...or foe? This episode delves into the nitty-gritty of credit cards. Find out what to avoid when using credit cards, why credit cards are a fantastic way to utilize free travel and retail, and my top tips to using credit cards responsibly.  In This Episode We'll Uncover: What is a Credit Card? Credit Cards as Foes: Interest Lack of Research Credit Cards as Friends: FREE TRAVEL Fun Rewards and Perks Build Your Credit Ways to Get the Money Out of Your Credit Card: Get a Credit Card With No Annual Free Research- Get a Credit Card with a Rewards Program PAY YOUR BALANCE IN FULL EACH MONTH Be Sure To Follow Me: Instagram & Twitter: @stacksnthecity Music: www.bensound.com

Ships need a reliable way to know their exact location at sea -- and for centuries, the lack of a dependable method caused shipwrecks and economic havoc for every seafaring nation. In this week's episode of the Futility Closet podcast we'll meet John Harrison, the self-taught English clockmaker who dedicated his life to crafting a reliable solution to this crucial problem. We'll also admire a dentist and puzzle over a magic bus stop. Intro: Working in an Antarctic tent in 1908, Douglas Mawson found himself persistently interrupted by Edgeworth David. In 1905, Sir Gilbert Parker claimed to have seen the astral body of Sir Crane Rasch in the House of Commons. Sources for our feature on John Harrison: Dava Sobel and William H. Andrews, The Illustrated Longitude, 1995. William J.H. Andrewes, ed., The Quest for Longitude, 1996. Katy Barrett, "'Explaining' Themselves: The Barrington Papers, the Board of Longitude, and the Fate of John Harrison," Notes and Records of the Royal Society of London 65:2 (June 20, 2011), 145-162. William E. Carter and Merri S. Carter, "The Age of Sail: A Time When the Fortunes of Nations and Lives of Seamen Literally Turned With the Winds Their Ships Encountered at Sea," Journal of Navigation 63:4 (October 2010), 717-731. J.A. Bennett, "Science Lost and Longitude Found: The Tercentenary of John Harrison," Journal for the History of Astronomy 24:4 (1993), 281-287. Arnold Wolfendale, "Shipwrecks, Clocks and Westminster Abbey: The Story of John Harrison," Historian 97 (Spring 2008), 14-17. William E. Carter and Merri Sue Carter, "The British Longitude Act Reconsidered," American Scientist 100:2 (March/April 2012), 102-105. Robin W. Spencer, "Open Innovation in the Eighteenth Century: The Longitude Problem," Research Technology Management 55:4 (July/August 2012), 39-43. "Longitude Found: John Harrison," Royal Museums Greenwich (accessed Aug. 27, 2017). "John Harrison," American Society of Mechanical Engineers (accessed Aug. 27, 2017). J.C. Taylor and A.W. Wolfendale, "John Harrison: Clockmaker and Copley Medalist," Notes and Records, Royal Society Journal of the History of Science, Jan. 22, 2007. An Act for the Encouragement of John Harrison, to Publish and Make Known His Invention of a Machine or Watch, for the Discovery of the Longitude at Sea, 1763. John Harrison, An Account of the Proceedings, in Order to the Discovery of the Longitude, 1763. John Harrison, A Narrative of the Proceedings Relative to the Discovery of the Longitude at Sea, 1765. Nevil Maskelyne, An Account of the Going of Mr. John Harrison's Watch, at the Royal Observatory, 1767. John Harrison, Remarks on a Pamphlet Lately Published by the Rev. Mr. Maskelyne, 1767. An Act for Granting to His Majesty a Certain Sum of Money Out of the Sinking Fund, 1773. John Harrison, A Description Concerning Such Mechanism as Will Afford a Nice, or True Mensuration of Time, 1775. Steve Connor, "John Harrison's 'Longitude' Clock Sets New Record -- 300 Years On," Independent, April 18, 2015. Robin McKie, "Clockmaker John Harrison Vindicated 250 Years After 'Absurd' Claims," Guardian, April 18, 2015. Listener mail: Charlie Hintz, "DNA Ends 120 Year Mystery of H.H. Holmes' Death," Cult of Weird, Aug. 31, 2017. "Descendant of H.H. Holmes Reveals What He Found at Serial Killer's Gravesite in Delaware County," NBC10, July 18, 2017. Brian X. McCrone and George Spencer, "Was It Really 'America's First Serial Killer' H.H. Holmes Buried in a Delaware County Grave?", NBC10, Aug. 31, 2017. Daniel Hahn, The Tower Menagerie, 2004. James Owen, "Medieval Lion Skulls Reveal Secrets of Tower of London 'Zoo,'" National Geographic News, Nov. 3, 2005. Richard Davey, Tower of London, 1910. Bill Bailey reads from the Indonesian-to-English phrasebook Practical Dialogues: https://www.youtube.com/watch?v=rZZv6D4hpK8 A few photos of Practical Dialogues. This week's lateral thinking puzzle was contributed by listener Oskar Sigvardsson, who sent these corroborating links (warning -- these spoil the puzzle). You can listen using the player above, download this episode directly, or subscribe on iTunes or Google Play Music or via the RSS feed at http://feedpress.me/futilitycloset. Please consider becoming a patron of Futility Closet -- on our Patreon page you can pledge any amount per episode, and we've set up some rewards to help thank you for your support. You can also make a one-time donation on the Support Us page of the Futility Closet website. Many thanks to Doug Ross for the music in this episode. If you have any questions or comments you can reach us at podcast@futilitycloset.com. Thanks for listening!

This Podcast Is Episode Number 0220 And It Will Be About Contractors Are Skilled In Construction But Not Usually In Construction Accounting Almost every Contractor understands how to do basic repairs and remodels on a house.   As the project grows it gets a little more complicated. Is it a kitchen remodel, a bath remodel, upgrading the laundry area? Building a Deck? Adding a second story addition? Adding a garage? Your Construction Accounting System started small and easy. Perhaps you tracked everything with bank statements and Excel sheets and it worked fine for a while. Later as your Construction Company grew and you began to wonder where you are making and losing money (Job Costing) and you realized you need to better understand Construction Job Cash Flow you purchased QuickBooks thinking it was "Quick" and that is when the trouble started... Each type of project takes planning and skill. Doing a teardown and then building a new house? Oh, maybe the zoning does not allow for a new house so technically it is a major remodel keeping a certain amount of square footage of the original house.   A brand-new contractor without a background in larger projects typically is not going to immediately jump into a large remodel.  Someone who has done lots of remodels may not be comfortable building a new house from the ground up. Decisions in any project are what level of quality of the work, how much detail, the size and the material needed to complete the job Decides How Much It Costs.  Is a Cottage or a Mansion?          The area of the country makes a difference. For Example, a $500,000 house in one part of the country could be a two story, 4 bedrooms, 2.5 baths and a wraparound porch. In another part of the country, it may be a 3-bedroom rambler and a carport.      The cost of material may not be a lot cheaper in one area over another. The price of sheetrock and lumber increased in Seattle after Hurricane Sandy and Hurricane Katrina. Local labor may be different.   The skillset needs to complete the Handyman Repair, Installation of Plumbing, Heating, Electrical, Roofs, building the Additions on a House, creating a whole house remodel or building a new house are not the same as being able to track all of the expenses and do all of the bookkeeping properly. Construction Accounting and Regular Accounting require entirely different skill sets. With an Excel Spreadsheet, quite a lot can be done to know your costs and track the bills that need to be paid. Many contractors have done this for years. Turning in the spreadsheet and a pile of paperwork to the Tax Accountant to file the annual taxes.   If the Tax Accountant has worked with you for years; they understand your method and figure out a workaround.  Some will setup QuickBooks Desktop or some other software to create monthly, quarterly numbers leading them to the annual Profit & Loss and Balance Sheet needed to file your annual taxes   Your Banker is not quite so willing to do “try to figure out” your financials. They have a limited amount of time to make a presentation to a Loan Committee.  Financial Statements from QuickBooks make it easy for your Banker and the Loan Committee to compare financial statements between applicants. Some contractors have the benefit of being in a small town, where their banker has known them for years. The decision process is more informal.  As Bank Regulators have gotten involved with the decision process – what was a simple “Yes” decision may suddenly be “No”. A lot of Home Builders got caught up in that loop and lost property because could neither sell or refinance. Are you counting on “The Kindness of Others” (to quote slightly from a classic movie) for solutions to your lack of good bookkeeping? Sometimes it is harder to avoid doing something than it would be to find a qualified “Construction Bookkeeper” to do the Bookkeeping for your Construction Company.   Here is my parental side showing. Many times our kids would spend more time avoiding their homework, cleaning up their rooms, doing chores and explaining “Why It Wasn’t Done” or “Why They Shouldn’t Have To Do It” In many cases more time was spent explaining than it would have taken to do it.   As Construction Accountants, we understand there are “Too Many Tasks” and not enough time in the day. This is “Why we develop processes, procedures, use Software and app’s” to make it as easy as possible for our clients. As Contractors, it is not that you can’t do it but is it the “Highest And Best Use of Your Time” Wow – I’m positive you can enter in fuel slips into QuickBooks. Might be a better use of your time talking to a prospect, looking at a job, creating an estimate, writing up the invoice, or collecting The Money, going to the Bank to deposit the Money, paying your insurance, cleaning your truck and even sleeping. The Basics in our world is the Five Key Performance Indicators plus Job Costing. Sometimes a contractor is so busy trying to get super detailed that they miss the basics. I make recommendations on what I call Sharie’s Cash Management 101 – Get the Money. Think about the Five Key Performance Indicators like the dials on your truck dashboard. Washington State it is a sales tax driven state, is your state the same way? One issue Contractors discover is that Sales Tax is due at the time of purchase unless they have a Reseller Permit (issued by the State of Washington) Sales tax reports are due monthly, quarterly or annually. Some items purchased is considered “Consumables” – Suppliers have the exact list.   If a purchase is made on April 1st with sales tax paid to the source (supplier) and if the Tax Return is paid Quarterly – it is due on July 31st, therefore, sales tax was paid months earlier than necessary. ·    This impacts cash flow. ·    Failing to Get Job Deposits. ·    Failing to outline payment schedule with the client on larger projects. ·    (Paid Weekly, Bi-Weekly or by Milestone of the job). ·    Failing to send the “Notice To The Owner” and relying on the “Notice To The Owner by their Material Supplier” This is helpful but only to the amount of the material bill.   ·    Failing to get Signed Change Orders. ·    Customers versus Clients remember the deducts and have memory loss on the increases. Construction Bookkeeping is more than Balancing the Check Book (which is important) Receiving actual bills from your subcontractors. Have you set a schedule on “How and When” you are paying subcontractors? Is it tied to the same schedule you are billing your client?   Money In and Money Out. Just because you have money in the bank from the last project does not mean you should delay or ignore billing on your current projects.  Remember you have outstanding liabilities coming.   Here is what is coming:  Material Suppliers on 30-day accounts, Credit Card payment for purchases paid for, Payroll Liabilities, Sales Tax Liabilities, Worker’s Compensation, Liability Insurance, Vehicle Insurance.      Bigger costs like Vehicle Repairs, Down Payment on a newer vehicle.   That marketing budget for business cards, flyers, online advertising, upgrading or updating your website.  Adding GPS tracking, software, and your Construction Accountant.   It all takes money from someplace.   Even if it is from a line of credit; the bank wants to see financials not some scribbled notes on the back of a brown paper bag.   Frequently Asked Questions From Contractors: Am I too small for you to help? I am just getting started.   My answer is No - You Are Not Too Small.  We have a plan for the Brand New and Existing Small Contractors.     Shouldn’t I learn how to do all of my own bookkeeping before turning it over to you? My Answer Is No – It is not possible to be an expert in everything we do.   Learning what receipts to keep is more important than learning “How To Put Them Into QuickBooks When I hire you – Will do everything for me? My Answer Is No – You will continue to control the money.   We are here to help, but all final decisions on How Much To Bid the job. What, When and How Much to Invoice your client is your decision. Who to pay and when to pay them is also your decision.   We have a Document Management System that links to your banks and credit card companies. We receive feeds (copies of the transactions) after they have cleared the bank, plus the monthly statements.   We will still need to receive Customer Invoices.  Currently, provide to our clients a Stand Alone invoice built on Excel. Coming Soon: We are evaluating a web-based software that works with QuickBooks Desktop for Dispatching and Invoicing for everyone’s convenience. Will keep you posted on our progress.   Not all software works as well as advertised which is why we test, test, test before using it or recommending it. The only money we touch is our own Fees.   Auto receives for Monthly Outsourced Accounting and Bookkeeping Services on the 1st day of each month. Auto receives for Weekly Outsourced Accounting and Bookkeeping Services on Monday of each week.   Other Customer Service Options Available Cloud Hosting is available for clients who want to do their own Accounting And Bookkeeping but be on our server for web-based access; occasional review and support. FastEasyAccountingStore.com is available for all contractors who want to purchase QuickBooks Setup and / or QuickBooks Chart of Accounts to enhance their existing QuickBooks accounting systems.   Consulting is available to Outsourced Accounting Clients, Hosted Clients and FastEasyAccountingStore.com and all contractors around the world.   Looking forward to being of assistance as you choose the options that best fit your needs. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that, and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Desktop Version In One Of Three Ways: #1 EZ Step Interview inside QuickBooks Setup #2 Asked Their Tax Accountant To Setup QuickBooks #3 They Attended A How To Setup QuickBooks Class Or Seminar And QuickBooks Does Not Work The Way They Want It Too! The Answer: #1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company #2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company   Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Episode_Contractors_Are_Experts_In_The_Field_Of_Construction

This Podcast Is Episode Number 0201 And It Is About Contractors Are Confused About Bookkeeping Many of you may begin with the thought; I am just a contractor I don’t want to be in business; I just want to do the work That is what is important. Yes, doing the work is important. Keeping track of your hard costs, soft costs, general expenses and overhead is the difference between making a profit or having a loss. Ignoring the costs do not make them go away; it just avoids putting them on the tax return. Any missed expenses make your profit on the job look higher than it really is and causes you to pay more income taxes because all net profit is taxable. All businesses need to keep track of their company expenses, including the material and much more. Contractors usually go from one extreme (doing nothing) to the other (trying to count every bean, every paperclip, all the nails and, the scraps of 2x4’s). The balance is somewhere in the middle. Labor is the biggest cost you will face. As an owner / operator you're entitled to the same wages your construction company would pay for having another construction worker on the payroll. Otherwise, why not go to work for someone else?   Favorite Option: No Bookkeeping System One checking account which is a mix of business and personal expenses. Multiple credit cards which are a mix of business and personal expenses. No formal invoices to customers. Give verbal amounts to customers to pay; maybe send them an email. Have customer payments made out to you instead of the company. Part of the time deposit the check into the checking account. Most of the time Cash the check; randomly put the money into the bank or Hip National Bank. Ignore the government until forced to respond. Usually throw away all your receipts, deposit slips, bank and credit card statements. Emergency; Toss everything you can find later into a file box (all receipts business or personal). Take the Magic File box unsorted and may not have all statements to the tax accountant. Drop and Run – Tax Accountant’s Problem Now. Messy records mean you will pay a lot more income tax. Next Option: Limited Bookkeeping System Contractors are trying to do their own bookkeeping may start with a pile of receipts and some. One checking account which is a mix of business and personal expenses. Multiple credit cards which are a mix of business and personal expenses. Catch yourself from throwing away all your receipts, deposit slips, bank and credit card statements. When you remember, toss everything you can find into a file box (all receipts business, personal, junk mail) Randomly look for the missing bank and credit card statements and add them to the box.   Create written proposal, send the customer an email in “story form” with an amount to pay. Give verbal amounts to customers to pay. No formal invoices sent to customers. Have customer payments made out you or the company (based on what the customer wants). Usually, deposit customer’s check into the bank, maybe put into the bank or Hip National Bank. Ignore the government until forced to respond. Take the Magic File box unsorted complete with junk mail which may not have all statements to the tax accountant. Drop and Run – Tax Accountant’s Problem Now. Messy records mean you will pay a lot more income tax. This process can go on for years until the Contractor is willing to make a change even a slight one; nothing changes. No one can make a Contractor like to do paperwork. It is not a natural skillset. The question is how to make paperwork easier, simpler, and at least tolerable for the Contractor to do before getting back to the “Fun Stuff” like building something, taking apart something, fixing something. To Explain In A Way, Your Spouse Would Understand Contractor’s Clean House (tear out walls and fill a dumpster)  Rearrange Furniture (remodel and move walls) Buy New Stuff (sheetrock, cabinets, light fixtures, plumbing fixtures and faucets, carpet) Install Stuff (secure to wall, floors, and ceiling so we can’t move them) To Explain In A Way, You Would Understand Wives move rearrange furniture as part of the process to cleaning the floors, baseboards edge to edge. Once the furniture has been moved and cleaned behind; it is easier to leave the furniture in the new location than move it back to the original location. This process is called Spring, Fall, Summer, Winter Cleaning. The contractor just knows his stack of papers got moved. His desk, chair, sofa, remote, dresser, clothes moved, and he is clueless on why. It was all perfect exactly where he left it; now everything is lost. Unlike the Contractors who have laborers to help with the heavy work. Most wives have helpers who   stand under 4’ tall, want a cookie and a cartoon break (often). By the time they are over 5’ tall, they are out with friends anytime there is a hint the vacuum cleaner might be calling their name. On a serious note: Many kids are great helpers learning about the business, are out on the job site, working in the office and helping at home. For Contactors – the number of jobs on the “To Do List” are endless. Third Option: Contractors Bookkeeping Is Easy, Anybody Can Do It! Contractor tries to do it all Contractor works on making his best sale (spouse or girlfriend) Contractor works on his best drop down sale (mother) as a favor Contractor works on having a friend (friends spouse or girlfriend) do bookkeeping as a favor. Contractor has exhausted everyone on the list above and hired a friend of a friend as a 1099 contractor Contractor hires friend who took an accounting class once as 1099 contractor Contractor hires someone who has office experience and is a willing to try to do the bookkeeping Contractor hires someone who did bookkeeping using other software in another field.   Contractor hires someone who used QuickBooks and therefore should be able to do their bookkeeping. Contractor hires a bookkeeper who is willing to make all the decisions, pay all the bills and treat it as if it is their business; implying they are the owner to Customers, Vendors, Suppliers, Other Employees. The Last Option Sounds Like A “Dream Come True” Until It Shifts To The “Nightmare of the Bad Bookkeeper” They train the contractor like an organ grinder trains a monkey, click here to learn more They refuse to invest time and money in continuing education because they know everything They are passive aggressive and will study you and your staff to learn how to manipulate everyone They are masters at gaining power over you, your staff, and new employees and outside suppliers They hate change and will fight tooth and nail to stop it or they will destroy your company They know you're responsible for taxes, fines, penalties and interest; so this is where they get even They know how to increase your quarterly tax return costs, click here to learn more They understand that bookkeeping is 90% repetitive transactions and 10% complex transactions They don't know what to do with complex transactions, so they put them wherever they feel like They have side jobs working for other companies or an entire bookkeeping business on the side They decide how much integrity if any, your company has and they tell everyone who will listen. They create a miserable work environment causing turnover in your staff which costs you money They make your customers and clients feel unwelcome and unappreciated which costs you money They act as if they are serving time in jail and do the minimum required to keep their job They say things to suggest businesses are bad and construction company owners are the worst They are jealous of your success and even more so if they ever had a failed construction business They don't learn anything new, why should they, nobody is reviewing the QuickBooks They never learn anything new unless the company pays for the training and it is on the clock They quit when the tax return is being prepared because QuickBooks is a mess and they're caught They come in a little bit late every morning and leave a little bit early to make up for it they bait you with drama, nasty comments and minor actions to find your tolerance limit They get even with you for every perceived injustice against themselves and society as a whole They keep you busy with lots of mindless crap to divert attention from why the books are a mess They let you think you are in control of the bookkeeping and the bookkeeper until it is too late They make you think they are looking out the best interest of the company, LOL! They let the work expand to fill whatever time you are willing to pay them to get it done When they quit or get fired expect to hear: “Chaos, panic and disorder...my work here is done” They become indispensable in order to take time off whenever they please and hold you, hostage They negotiate for additional perks, benefits, changes, and elimination of personal accountability They network for a better job with your clients, suppliers, vendors and your competitors They represent themselves to outsiders as the owner or manager with decision-making authority They text, message, e-mail, surf the web, chat on the phone and socialize on company time They train you to leave them alone by getting upset or angry whenever you want anything They work hard at causing just enough chaos, so owner does not earn more than the bookkeeper When your business fails they tell everyone, you are incompetent, and they saw it coming They live in a chaotic, neurotic, psychotic, selfish, disorganized, blame game environment They work through lunch to leave earlier in the day (At the office for 7 hours and get paid for 8) What happens when the person in control of QuickBooks is unhappy? The same thing that happens when the cook is unhappy! All Of This Seems Like A “No Brainer” To Contractors Who Have Been In Business For A Long Time Please remember How It Was; when you were in your First Year in business.   Did your find some neighborhoods easier, nicer to get jobs?   Remember That First Job?  Was it profitable?   What was the learning curve about bidding? Contractors Need A Working Knowledge Of Business To Become Successful What is Income? If “Money In” not clearly defined in an Accounting System; then the government agencies will consider all money you received in the bank as “Income.” No big deal; right? “Money Out” is just a few taxes between the City, State, and Federal based on either “Gross Sales or Net Income.” Deposits are from the following sources: Down payment on the job Reimbursement for material Progress payment Refund on material Premium overpayment Overpayment of taxes Loan from bank or friend Personal Loan from You Tracking Receipts: All material and overhead receipts need to go into an Accounting Software Please Note, One Giant Single Entry for multiple receipts is not proper accounting.  It is quick, and it does match the payment from the bank to the credit card company. A true example of “Garbage In = Garbage Out” As the Contractor; it is understandable to take short cuts and get the job done. Hiring an In-house bookkeeper or accountant; not really any good excuse.   Same goes for expecting someone who knows nothing about bookkeeping to get it right. You are overpaying for the task at hand; because in the future, you are paying to someone to “Do It Over.”   Tax Accountants are too busy to chase after you and nag for missing deductions.   In your zeal to have good job costing reports “Do Not Overdo It.” There is a balance between making paper airplanes and flying your receipts near the Magic Box and trying to get so detailed in your bookkeeping system that it becomes this overwhelming task. It is unreasonable to expect your Office Manager / Bookkeeper to enter in each material receipt into the Accounting Software line by line. (Coded to perfection without any direction from you) What should a Contractor use in QuickBooks? Looking at the Home Page in QuickBooks some contractors feel they must use every part of QuickBooks to be sure they get their Money’s Worth. Think Picture Puzzle – and the small child starts out with a 25 piece puzzle and moves up to larger puzzles with more pieces.  They do not start out with a 2000 piece puzzle.   What you need in QuickBooks depends on What You Do and How You Do It The object is to pick the basic parts of the Software and make it work well for your company.   QuickBooks is designed for the most basic user with limited accounting skills. (Use as a checkbook) QuickBooks is set up with an Easy Step Interview designed to help contractors get a feel of the Software.   If you are only going to use it as an Electronic Checkbook then maybe a very basic setup is all you need. For proper job costing you will need a little bit more than the basics QuickBooks is designed for Customized Setups to be able to function well from someone doing Professional Services, Handyman, Trade Contractors, General Contractors, Commercial TI Contractors, Custom Home and Spec Home Builders and Developers. At Fast Easy Accounting We Welcome: Brand New Contractors Established Contractors Home Builders Commercial Tenant Improvement Contractors Remodel Contractors Trade Contractors Weekend Warrior Contractors Handyman Contractors Restarting Contractors Contractors that tried the No Bookkeeping Option Contractors that tried the Basic Bookkeeping Option Contractors that tried the Bookkeeping Is Easy Option, and Anybody Can Do it. Sometimes what looks “Good On Paper” doesn’t always work in the “Real World.” Do You Just Need “A Little or A Lot of Help?” There are No Right or Wrong Solutions, only what works best for you and your situation. Do-It-Yourself Contractors But Not By Yourself Click here to visit our Contractors Assisted Do-It-Yourself QuickBooks Setup Store Digital Products on FastEasyAccountingStore.com are available worldwide More Digital Products and Professional Services are regularly added  Do you want something you don’t see? Send in a request for it to be added What Can Fast Easy Accounting Do For Contractors? Contractors Bookkeeping And Construction Accounting Services New Company or Fresh Start - We setup your new QuickBooks File Existing Company - We set up, clean up your QuickBooks File Return file to you for your In-house Bookkeeping solution Discuss the possibility of Outsourced Accounting One Hour Free Consultation Short Answer – Yes, We Can Help Keep In Touch Sharie   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that, and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Desktop Version In One Of Three Ways: #1 EZ Step Interview inside QuickBooks Setup #2 Asked Their Tax Accountant To Setup QuickBooks #3 They Attended A How To Setup QuickBooks Class Or Seminar And QuickBooks Does Not Work The Way They Want It Too! The Answer: #1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company #2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that, and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Desktop Version In One Of Three Ways: #1 EZ Step Interview inside QuickBooks Setup #2 Asked Their Tax Accountant To Setup QuickBooks #3 They Attended A How To Setup QuickBooks Class Or Seminar And QuickBooks Does Not Work The Way They Want It Too! The Answer: #1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company #2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Are_Confused_About_Bookkeeping

This Podcast Is Episode Number 0187 And It Will Be About Construction Contractors Mad Dash To The Year End Mad Dash To The End Of The Year And I Can’t Remember Last Week Let Alone January, April, July’s Stuff! The year is almost over. It is now the (4th) Quarter and year end deadlines are approaching. Have you given your bookkeeper, wife, partner), accountant or tax accountant the information need to complete your reports. Accountants need good information to be able to create detailed reports and save money on your taxes. Here is truly where the expression “Garbage In Equals Garbage Out” comes into play.  It is impossible to create QuickBooks Job Costing Reports when all anyone knows is the amount of a deposit on the bank statement.      It’s the Mad Dash To The End Of The Year as a contractor recently described their Year End Madness to get his documents ready for the Tax Accountant. Are You In This Cycle Of Chaos Too? It’s Preventable! Paper, Paper, and More Paper Bookkeepers and Accountants are unable to create good reports without paperwork, documents, receipts, customer invoices, customer payments, bank statements, credit card statements, payments made using a personal checking account instead of your business account (it was easier because that was where the money was), personal credit cards (I used whichever one was handy in my wallet) and all the cash receipts. Client to the Accountant: Why do I have to give you all this stuff?      Every Missed Receipt That Is A Business Expense Is A Missed Deduction Bookkeeping is all about Tracking The Money. Money In, Money Out is just tracking the checkbooks. Accounting is entering into an Accounting System which creates a Profit & Loss and Balance Sheet for the Tax Accountant to do the Annual Taxes. (Every successful contractor should have a Tax Accountant do their annual tax return) Construction Accounting Is That Next Step To Growing Your Company In Construction Accounting not everything is an expense. Not every item, tool, material or customer goes into the Chart of Accounts. In some case Class Tracking is useful, but most of the time it is used to make up for a poor Chart of Accounts or using it as a “workaround” for an accounting product not designed to have Job Costing Reports or Cost Of Good Sold. Giving your bookkeeper only your bank statements and saying “Fix It” – I Want Job Costing Reports, I Want To Know Details is not enough. Doing It The Way You Have Always Done It – Then Expecting A Different Result isn’t the way it works. Success Is Doing A Few Things Right  And  Repeating and Adding Improvements One At A Time. To grow and improve a company needs to be able to adapt to the changes, be open to new ideas. At Fast Easy Accounting we have and entire department, The Project Management Department, that questions every bit of our Contractors Bookkeeping System everyday and continually finds new and better ways to improve it and make it more valuable to Contractors like you no matter where you are in the USA Including Alaska and Hawaii. Our website www.fasteasyaccounting.com features more video, podcasts, and blogs with more places where podcasts can be accessed, including FREE Forms and new ways for contractors like you to connect with us and get the help you need.     For Clients, we added a Document Management System that links with many of the banks and credit card companies across the country (adding more all the time).  We still use our original Document Management System behind the scenes.  The two companies have figured out a way to work together for the benefit of us and our clients.  Change is not always an easy thing, but we are so glad we did. The same applies to you “The Contractor” As you figure out ways to be more efficient, better pricing, prove a better product and service your cash flow and profits will increase massively which means more money in the bank to operate and grow your Construction Company and more freedom to do the things you really want to do with your life! Without YOU – Building, fixing, repairing, maintaining our homes, businesses, roads, bridges, highways and all of the other infrastructure we take for granted; we would not be able to live indoors, have lights, internet, running water, and be able to drive to the grocery store. Thank You!  Now It Is Our Turn To Help You – How Can We Help?   If you have an existing QuickBooks Desktop – We can help, all we ask is a backup copy to review the file. If you have an existing QuickBooks Online – We can help, all we ask is accountant access to review the file. If you are using a “shoe box, file box or stuff is still behind the seat of the truck we have many ways to get documents to us. We never ask questions are not to beat up on you for "How You Have Done It." You know it’s messy and missing stuff. We know it too, and we want to help figure out the gaps. Our goal is to quote a Flat Rate number for our services that is “Fair To You” and “Fair To Us.”     It Is All About Choices. I will offer suggestions, and my proposal is recommendations.   What do you want? In most cases, it is answers and reports with as little direct input from you as possible. To get there, we have to address  “Where You Are Now” and “Where You Are Going” to determine “How To Get You There” In all things it still takes some effort and activity on your part. QuickBooks Setup For Contractors – We have a Customized Setup for QuickBooks that we know works and we are constantly updating it. It works for all contractors from Weekend Warriors, Handyman, Trade Contractors, General Contractors, Remodel Contractors, TI Contractors, Builders and Developers. You can be “Too Big” but it is not possible to be “Too Small” with Flat Rate Pricing we focus on “Where You Are Now.” Cleanup  Existing Data - The Past: What do we do about what has already happened Missing Data – The Past: What do we do about “What’s Missing?” Examples: Payments only – Vehicle payments, credit card payments; money was spent, WHY?   Examples: Deposits in the bank – Is it Customer Payments (Who), Job Deposit, Refund, Your Money When in doubt – State and Federal Government will treat in Customer Payments as taxable INCOME. You Are Thinking - You know what to do if you just had the QuickBooks file setup Fast Easy Accounting Does The Following:   Setup New QuickBooks File – No Transactions and we return your QuickBooks file. Setup New QuickBooks File – Add your existing Transactions and give the QuickBooks file back. Setup New QuickBooks File – Add and cleanup your existing Transactions and give the QuickBooks file back. Setup New QuickBooks File – Clean up your existing Transactions, add missing transactions and give the QuickBooks file back. Do You Want Something Else? What to do with your QuickBooks file? Try The Cloud Option? We always recommend Hosting your QuickBooks File in the Cloud because it allows you to access your QuickBooks desktop version from anywhere in the world using a Desktop, Laptop, Tablet PC or Apple Product. (QuickBooks must be PC Version; however, you can access it with any web-enabled Apple Product.) For Do-It-Yourself Contractors As long as you have a copy of the QuickBooks Desktop (PC Version) less than three years old you can start anytime. We only Setup, Cleanup your QuickBooks file if you want us to do it. We recommend it… But that is totally optional. Ongoing Bookkeeping  - Who Is Doing The Future Bookkeeping? Outsource To Us, Outsourced To Others, In-House Bookkeeper or continue to give the “Shoe Box” or “Excel Sheet” to Tax Accountant – After all, It’s All The Tax Accountant Needs. Accounting is just a waste of money.  If this is your thoughts; feel free to subscribe to our newsletters, listen to our Podcasts and use all of the FREE forms on the website. This is not the answer your Banker is looking for when the Bank asks for financial statements to approve your loan. We are here when you are ready to make a change.     For Outsourced Clients who want Fast Easy Accounting to do their bookkeeping: Our Custom Chart of Accounts is required, some cleanup to have good numbers starting with agreed Start Date is a must.  QuickBooks File rests in the Cloud. Client access to QuickBooks is Optional and can be added at any time (additional fees). Proper accounting is more than entering in the bank statement.   Reports are only as good as the data received. If you don’t know “xxx” how will we? So much “fill in the blank” information is in your head and with proper documents sent to bookkeeping; this could be in your accounting system providing answers to that question.  Who Owes Who How Much Money? It is almost the end of the year and the Mad Dash Begins. You are starting to ask yourself the $64,000 questions: What About and have I met my goals for this year? You are thinking about what to do for the balance of this year and planning for the start of next year? Should I start now?  Should I wait? I can’t decide! It is time to start fixing those loose ends now! The reports are only as good as the data received. If you don’t know the answers tell us as much as you can and we will do our best to “fill in the blanks.” A Quick Reminder: Forms to the Internal Revenue Service is due on January 31st each year, for W-2 Employees and for 1099 Contractors. Now is the time to start collecting W-9 on your Subcontractors and 1099 Contractors. It is not too late to reclassify 1099 contractors to employees and pay the State and Federal Payroll taxes. We are here to help. Call me to discuss your needs. Sharie 206-361-3950 or email sharie@fasteasyaccounting.com. If we have chatted before and things have changed, call or email me with an update on your new adventures.  I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Contractor Bookkeeping Done For You! Profitable Contractors and Construction Company owners have known about the value of outsourced bookkeeping services and contractor coaching services like ours for a long time and now you know about it too! Thank You For Reading This Far And I Hope You Understand we really do care about you and all contractors regardless of whether or not you ever hire our services. We Scan Your Receipts And Invoices link the appropriate transactions to QuickBooks or Xero Accounting Online depending on the construction accounting service you are using and provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction. Our Contractor Bookkeeping Services System Is A System Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   Business Process Management (BPM) For Contractors Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services We Are Xero Accounting Experts Specializing In Construction Bookkeeping Services About The Author: Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction__Contractors_Mad_Dash_To_The_End_Of_The_Year

Ben, of Ben & Jerry, talks to Lee Camp about getting Money Out of Politics. Plus Jamie Mesada of the Laugh Factory talks about the "Funniest Person In World" Contest. Also, the most Censored stories at the Debates, John F. O'Donnell vs. the Debates and more!

Ben, of Ben & Jerry, talks to Lee Camp about getting Money Out of Politics. Plus Jamie Mesada of the Laugh Factory talks about the "Funniest Person In World" Contest. Also, the most Censored stories at the Debates, John F. O'Donnell vs. the Debates and more!

This Podcast Is Episode Number 0165 And It Will Be About And It Will Be About Job Costing For Small Contractors Most Construction Accountants that talk about Job Costing are speaking to large contractors with dozens of employees, doing millions of dollars in sales every year. This podcast is not about them it is about you! I care deeply about all Contractors. However, since I have a limited time on this earth and it my mission to help small contractors like you become wealthy because you bring value to other people's lives! Owners of small construction companies like you are the men and women who keep everything moving in the right direction. When the economy changes, you quickly adapt because you are a survivor, not a large giant behemoth dinosaur unable to respond quickly and dies in its tracks. Job Costing In Its Simplest Terms Job Costing links the money you spent on a job against the money you received to do a particular job. In Construction Accounting, there are two types of Cost of Goods Sold (COGS) Direct Construction Costs and Indirect Construction Costs. Both are equally important to generating useful Job Costing Reports. There Are Four Types Of Direct Job Costs L.M.O.S. #1 Labor costs for your construction workers including your payroll #2 Material you purchased for the job #3 Other charges like permits, inspection fees, and utilities #4 Subcontractors There are several types of Indirect Construction Costs. Everything that is not Overhead or Other Income and Expense. For more on this ask your construction accountant. Job Costing Reports can show you where you are making and losing money which is the foundation for finding out the answer to the most important question you need to know to grow your cash flow and profits "Who Is My Prime Client And Who Is Not?"   For purposes of clarity since most accounting software and other related marketing software uses the word “Customer” instead of “Client” which as many of you know is the term I prefer. For more on this click here Customer vs. Client. Estimates vs. Actuals Report Compares These Key Metrics #1 Money out, what you thought the job would cost and what it did cost. #2 Money in, how much you collected. #3 The difference between money in and money out Weighted Average Of Indirect Costs And Overhead Next, you need to calculate the weighted average of Indirect Costs and Overhead, ignore Indirect Income and Expense as it has no bearing on Job Cost Calculations, to determine a metric you can use to allocate those costs to find the fully burdened Job Cost. Example Job 001 Money In $1,000 Money Out $500 Difference $500 Annual Sales $100,000 Annual Indirect Construction Costs $20,000 Annual Overhead $10,000 Job 001 = 1% Of Annual Indirect Construction Costs $200, ($20,000 X 1%) Job 001 = 1% Of Annual Overhead $100, ($10,000 X 1%) Job 001 = Burden $300 ($200 + $100) Job 001 = Profit $200 (Money In $1,000 - Money Out $500 - Burden $300) With this information, you can create more accurate quotes when you bid on future jobs. Job Costing will help you identify the most and least profitable areas of your Construction Company and most profitable customers and projects and outsource or subcontract the less productive aspects of your Contracting Company. If your Construction Company is not paying you an owner's salary, what it would cost to replace you, and at least 15% return on your investment then you need to rethink the intrinsic value of your Construction Accounting System. What Your Construction Accountant Needs To Generate Useful Job Costing Reports #1 Uniform Naming Convention (UNC) a simple method for naming your customers.     > First Name, Last Name     > Last name, First Name     > Company Name #2 UNC to identify different jobs and projects using a numbering system    or predetermined project titles     > 001 to 99999     > Remodel, Drain Cleaning, Replace Electrical Panel, etc. #3 Every field worker’s time card must have the Job Name, and preferably the task performed. #4 Every expenditure for Labor, Material, Other Costs, and Subcontractor needs to have a Job Name on the document, no exceptions. Any document without a Job Name will be assigned to “zCustomer Unknown” or worse yet, no Job Name at all. Job Costing Is A Lot Of Work And The Results Are Worth It! Job Costing is a lot of work for contractors and field workers, and since most contractors do not see an immediate benefit they tend to slack off on providing the information their Construction Accountant needs. Later when the contractor begins to ask themselves why am I working so hard and earning so little do they begin to ask about Job Costing Reports, and that is when they understand why the “Bean Counters” Construction Accountants kept asking for Job Names on every document and accurate time cards. I have used several construction accounting software products since the mid-1980’s and tested dozens more accounting software programs in the years since, including QuickBooks Online. As of today, May 20, 2016, in my expert opinion, QuickBooks Desktop in the Cloud installed on an Intuit Approved Hosting Provider like the one we use is the only viable option for owners of a small construction company like the one you have. You can save money in the short run by doing it yourself, hiring someone to work in your office or you can spend a bit more money in the beginning and outsource it to a company like ours Fast Easy Accounting, which specializes in Contractors Bookkeeping Services; the choice is yours. Just be forewarned to setup QuickBooks for your construction company, do the data entry, payroll, quarterly taxes, construction accounting and Job Costing and do it right will require substantial skill. If you can find someone or preferably a team with each member having at least 10,000 hours combined training and practice in regular accounting and another 10,000 hours combined training and practice in Construction Accounting and provide them will all of the office equipment and software. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

Edition #742 The economics of corruption and how to fix it Ch. 1: Intro - Theme: A Fond Farewell, Elliott Smith  Ch. 2: Act 1: Externalities - Sustainable Man - Air Date: 07-17-13 Ch. 3: Act 2: Elizabeth Warren Schools CNBC Hacks - Majority Report - Air Date: 07-18-13 Ch. 4: Song 2: Nobody's watching - Sara Radle Ch. 5: Act 3: Obama's Good Econ Speech - The Progressive Magazine - Air Date: 7-25-13 Ch. 6: Song 3: Little Talks (String Quartet Tribute to Of Monsters and Men) - Vitamin String Quartet Ch. 7: Act 4: Contrary To Right-Wing Media Claims, Middle Class Is Key To Economic Growth - Media Matters Minute - Air Date: 07-25-13 Ch. 8: Song 4: Little Talks (String Quartet Tribute to Of Monsters and Men) - Vitamin String Quartet Ch. 9: Act 5: Beware of Limbaugh-nomics! - Thom Hartmann - Air Date: 07-26-13 Ch. 10: Song 5: Class warfare - Chris Priest Ch. 11: Act 6: Global Enemy #1: Global Tax Shelters - Majority Report - Air Date: 07-22-13 Ch. 12: Song 6: Pay up - Jivestone Ch. 13: Act 7: Lawrence Lessig with a Plan To Remove Corruption in Washington Part 1 - Moyers And Company - Air Date 6-14-13 Ch. 14: Song 7: Slash and burn - Blind Corn Liquor Pickers Ch. 15: Act 8: Money Out of Politics in Massachusetts - The Young Turks - Air Date: 07-04-13 Ch. 16: Song 8: It's your time - Dorothy Norwood with The Miami Mass Choir Ch. 17: Act 9: Lawrence Lessig with a Plan To Remove Corruption in Washington Part 2 - Moyers And Company - Air Date 6-14-13 Voicemails: Ch. 18: There are lots of laws that disadvantage people of color - DJ from South Bend, IN Ch. 19: Thoughts on reforming 'stand your ground' - Wade from Ft. Worth, TX Ch. 20: Quotes on jury trials - Dave from Olympia, WA Leave a message at 202-999-3991 Voicemail Music:  Loud Pipes - Ratatat Ch. 21: Final comments on jury nullification Closing Music: Here We Are - Patrick Park Produced by: Jay! Tomlinson Thanks for listening! Visit us at BestOfTheLeft.com Check out the BotL iOS/Android App in the App Stores! Follow at Twitter.com/BestOfTheLeft Like at Facebook.com/BestOfTheLeft Contact me directly at Jay@BestOfTheLeft.com Review the show on iTunes!

--{ Energy Efficient Cook Stoves: Somethin' for Nothin', And the Fuel ain't Free: "Under Guise of Redistribution of Wealth, Austere (Poor) Countries Help Third-World with Health, Peoples Believe They'll Get Something for Nothing, From Kindness of West Whose People are Loving, In Reality Their Independence will Be Stripped Away For a Generation, Then One Fine Day They Find That Should They Need to Go Back, Basic Skills for Survival They All Do Lack, The More "Civilized", More Defenseless They Are, Skills So Basic are Lost and Afar, Now All They Need Owned by Those Relentless, Dominating the World Under "Interdependence" " © Alan Watt }-- System of Money and Debt - Self-Sustaining Independent "Primitive" Societies - Corporate Welfare - Payoffs for Politicians - British Bill to Prohibit Fractional Reserve Banking - Banks' Legal "Privileges", Creation of Money Out of Nothing. Scary Scenarios to Con the Public - Bogus Climate Change Claims of United Nations IPCC Reports - Redistribution of Wealth - Taxpayers' Money Sent to Third World for "Clean Stoves" - Gov. Department of Forestry's "Controlled Burns" (Holy Smoke). Property Taxation etc. to Pay for Infrastructure, then Privatized - National and City Assets Up for Sale - "Austerity" for Holland (Cut-backs). Genetically-Engineered Animals for Food - Meat Grown in Tanks - Salmon Modified by Ecoli. DNA Tests for Violent Psychopaths - Huxley's "Brave New World" - Sexual "Diversity" Courses. (See http://www.cuttingthroughthematrix.com for article links.) *Title/Poem and Dialogue Copyrighted Alan Watt - Sept. 21, 2010 (Exempting Music, Literary Quotes, and Callers' Comments)

Planned Financial Crash and Bank Bailouts - Rise of IMF/World Bank/BIS into Power, Dictating National Budgets - International Banking Cabal Running the World - Fractional Reserve Banking and Lending, Creation of Money Out of Nothing - Fiat Scams, Carbon Credits and Fees, Carbon Economy - Bankers' Records of History - Private Central Banks - Rothschilds and Bank of England (Never Audited). Indoctrination into Matrix Reality - Taxation Flow into Government (Never Enough) - Gov. Borrows Money to Give to Third World - Ancient Greek "Democracy" - Creation of Standing Armies - Elitist C.G. Darwin - One World System - UN, Food Quotas given to Regions - Socialism-Communism - EU Bloc - Vietnam. Privatization - Public-Private Deals (Public Pays for Setup and Maintenance, and Private Profits). RIIA-CFR - Foundations and NGOs, Parallel Gov. Not Responsible to Public - CFR's "End Run" around the U.S. Constitution. Self-Sufficiency - Writing Off the Debt - Gov. Minting/Printing its Own Money - "The Wizard of Oz", Man behind a Curtain - Debt and Intergenerational Slavery - Auditing of Federal Reserve - Fantasy of CO2 - REAL Estate - Language Used to Give Desired Conclusions.