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If your books aren’t up to snuff, it’s time to outsource. To make accurate and informed decisions on your business, it’s important to reference your bookkeeping. If they’re a mess, it means you don’t have the full story on your business. Making blind decisions is always a risk (one never worth taking!). Let’s talk about three signs it’s time to outsource.

You have a pile of receipts and papers left unrecorded, going back months.

If you have one or many folders stacked with receipts and papers from past months that haven’t been logged, it’s time to outsource. If you don’t put the time into your books, you’re neglecting your company as a result. As a business owner, it’s important to know where you stand financially, and this can’t happen if your unlogged receipts are collecting dust on your desk.

Skynar Bookkeeping is launching an entirely new monthly QuickBooks group training seminar…and you won’t want to miss it. The class sizes will be limited so instruction can be personalized to what YOU want to learn and ways QB can benefit YOU. These classes will be hosted by Cheryl Skynar, a Certified ProAdvisor with over 20 years experience in bookkeeping. 

When you’re a contractor, you work on multiple projects that need different accounts and we want to make sure the chaos doesn’t turn into confusion. To make sure everything is organized and you know exactly what’s going on in each account, we compiled a list of helpful tips.

1.      Set up your QuickBooks properly at the beginning. You will need a specialized Chart of Accounts and Items for your business. By doing this right the first time, you avoid the very time consuming task of having to clean up your books.
2.      Invest the time, money, and energy to set up QuickBooks to properly track Direct and Indirect Constructions Costs and keep Overheard separate.
3.      Use Estimates to your customers and Purchase Orders to your vendors. Link the two to track your costs by project.
4.      Assign Job Costing to all expenses.
5.      Make adjustments each month to recognize Work In Progress (WIP).
6.      Track your contractors for ease of issuing 1099’s at the beginning of the year.
7.      If this becomes too much to handle, hire a qualified QuickBooks ProAdvisor. The money you “invest” in this will help you save you time, money, and energy in the long run.