Construction Bookkeeping in Xero: Why Your Numbers May Be Off
Learn how construction bookkeeping in Xero works and what can cause inaccurate numbers, including bank-feed errors, duplicate transactions, CRM integrations, job-costing mistakes, loans, payroll, and more.
Fixing Historical QuickBooks Messes: How to Clean Up 5+ Years of Bookkeeping Errors
Opening an old or poorly maintained QuickBooks Online file can feel overwhelming, especially when you feel like you will need to be fixing historical QuickBooks messes. The bank accounts may not be reconciled. Undeposited Funds may contain years of customer payments. Accounts Receivable may include invoices that were paid long ago. Loan balances may not […]
How to Clean Up Undeposited Funds in QuickBooks Online (Without Making It Worse)
If you’ve opened your QuickBooks Online Balance Sheet and noticed a large balance sitting in Undeposited Funds, you’re not alone. For many business owners, Undeposited Funds becomes one of the most confusing accounts in QuickBooks. I’ve seen businesses with balances that are only a few hundred dollars, while others have tens of thousands of dollars […]
Why Your CRM and QuickBooks Are Telling Different Stories
For many contractors, integrating a CRM with QuickBooks seems like an obvious win. Your sales team manages leads and customers in one system. Your accounting team manages invoices and financial reporting in another. Connect the two, and everything should flow seamlessly. At least in theory. In reality, many contractors discover that their CRM and QuickBooks […]
Why Accounting for General Contractors Gets More Complicated as You Grow
Growth is a goal for most construction business owners. More projects. More revenue. Larger contracts. Bigger teams. On the surface, growth is a sign that your business is moving in the right direction. However, many general contractors discover that growth also brings a new set of financial challenges. The accounting processes that worked when you […]
9 Bookkeeping for Independent Contractors Mistakes That Lead to Tax Surprises
Many independent contractors enjoy the flexibility of working for themselves. You can choose your clients, set your schedule, and build a business around your expertise. But there is one part of self employment that catches many contractors off guard: taxes. Unlike traditional employees, taxes are not automatically withheld from your income. You are responsible for […]
When Bookkeeping Services For Construction Stop Being Optional
Growing a business is a series of transitions that require new tools and more sophisticated systems. In the beginning, you might have managed your own numbers or used a simple spreadsheet to keep track of expenses. However, as your projects grow in complexity and your team expands, you reach a tipping point where professional bookkeeping […]
8 Costly Mistakes When You Setup QuickBooks For A Construction Company
Starting a new project requires the right tools and a solid foundation. Your accounting system is no different. If you are wondering how to setup QuickBooks for a construction company, you are likely looking for a way to move beyond spreadsheets and get a clear view of your financial health. However, many contractors treat software […]
The Accounting For Construction Projects Trap That Turns Profitable Jobs Into Cash Stress
Many contractors in Colorado find themselves in a frustrating cycle: the crews are busy and the backlog is full, but the bank account does not reflect that hard work. You might be hitting revenue targets between $1M and $5M, yet the actual cash on hand feels tight. This disconnect usually stems from a specific trap […]
The Truth About Job Costing With Material Markup Tracking for Contractors
You likely built your business by being good in the field and saying yes to the right projects. However, as you transition from an owner operator to an owner manager, the metrics that worked for a smaller crew often fail to scale. The most significant gap usually appears in how you track your margins. Real […]