In this episode, David & Randall are talking with Randal DeHart who shows how to remove cash flow bottlenecks that are common in contractors bookkeeping, which results in more money in the bank, reduced overhead and lower stress!
In this week’s podcast episode:
00:50 Episode introduction
01:15 Welcome to Randal DeHart of www.FastEasyAccounting.com
02:20 Who is Randal DeHart?
03:20 Contractors make a lot of money
04:50 Randal gets started in construction accounting
05:30 Introducing Quickbooks
07:13 What’s the difference in a Bookkeeper and a CPA?
08:40 Why CPA’s are afraid of contractors
09:34 The difference in construction accounting and regular accounting
12:03 Randal chooses to NOT become a CPA for the contractors
12:50 What if you haven’t paid your taxes for contractors?
15:15 How to file taxes as a contractor
16:20 3 reasons a contractor should hire a construction accountant
18:38 Who normally hires construction accountants?
19:50 How to determine if a construction accountant is a good fit for your company
22:49 Considering an outsourced accountant
24:05 How does an accountant present construction costs and percentages?
25:30 What systems should be in place to outsource your accounting?
26:04 Where will your files be stored?
27:33 How is your data protected?
27:55 What happens if your accountant goes away?
32:09 Where are your actual financials worked on?
32:42 How to change your business dramatically in 60 days
36:39 Person of Interest (POI)
38:31 App of the week
Episode Person of Interest (POI) is Miro Klosowski of Homewise Remodelers, a Chicago, Il. based remodeling company.
– Schedule a Free one hour accounting consultation for contractors – Click here
– App of the week – Flickr store up to 600,000 hi resolution pictures…1 Terabyte Free
– 11 Reasons to use Flickr
– Flickr features