This Could Be The Solution To Your Bookkeeping Problems

Most contractors just don’t like to deal with the bookkeeping side of their businesses and end up either hiring someone unqualified or worse. In today’s interview, we talk about focusing on your strengths and working around your weaknesses by outsourcing your bookkeeping.

What you’ll hear in this episode:

The importance of setting up a financial dashboard with Five Key Performance Indicators (Randal covered these in depth back in Episode 3)
“Five at Five for Five”: cash, accounts receivable, accounts payable, profit/loss, and balance sheet
Sell work, Do work, and Keep score
SWOT: strengths, weaknesses, opportunities, and threats
Examples from “John” and “Michael” and their fictional companies

The biggest problem for contractors: not wanting to invest in quality office equipment and bookkeeping
Why roofing contractors’ accounting needs are different from other businesses
Why you should outsource your bookkeeping
How the outsourcing of accounting system works with Fast Easy Accounting
How you know you can trust an outsourced firm for accounting
“Good, the enemy of great”
Why job costing is important
Your board of advisors should include: tax preparer, construction accountant, commercial banker, financial planner, and Dave

Resources:

Find out more about Randal and his business: Fast Easy Accounting

Email to receive Randal’s Five KPI’s installed for FREE on your Quickbooks, or call Sharie directly and say you heard Randal on The Roofer Show: Sharie or 206-361-3950

Find The Contractor’s Success Map podcast to hear more from Randal