Get Your Construction Game Plan – White Paper
A case study in construction accounting and QuickBooks Online
New business owner Thomas, of Quality Construction**, has always been a project manager in his long construction career. When he decided to start his own company, he thought he knew everything he needed to know, but quickly learned that he had no knowledge about business, sales tax, paying employees, paying employment taxes, or what questions to ask when seeking help.
Thomas initially hired a different ProAdvisor to set up his QuickBooks Online file and catch up on all the data needed to get his books up to date. “She did a fine job setting up QuickBooks, I guess,” said Thomas. “But when it came to answering questions about what else I needed” … that was a different story. “She said to ask any questions and she would try to answer them. I didn’t know what to ask, didn’t even know where to start.”
The CPA for the ProAdvisor that Thomas had hired did provide a bookkeeping proposal that seemed to be a reasonable price. Then, Thomas then reached out to Business Cents. He still needed to know more and understand more, and since at Business Cents we offer a free 30-minute consultation, he gave us a shot.
“Business Cents was amazing,” Thomas said. “They had a formula and a plan for me to follow. I know I have a terrific resource that will help me grow and learn as a new business owner.”
Our comprehensive initial review dug deep into Quality Construction’s business to lay out all the areas of concern and help answer Thomas’ questions — including the ones he didn’t know to ask!
After our initial review was complete, we sent Thomas a list of questions regarding areas of concern. We then set up a telephone consultation to talk more about Quality Construction and answer questions. Together, we came up with a game plan for Thomas to follow, including what he needed to do and who he needed to meet with over the next few weeks.
Next, we set up an initial review of the year-end taxes scenario for Quality Construction. We prepared a priority training schedule to focus on the areas of the business that needed change the most, and created a plan for what they needed to do to drive their business forward in the shortest time possible.
Once these strategies are fully put into place, Thomas will have a clear picture of the financial health of his business, the maintenance needed to keep it that way, and a path for expansion in the future!
Want to know more about how we can help you? Call us at 509-389-7000 and schedule a free initial consultation. Or, browse our construction/contractor software and services.
**NOTE: At Business Cents, client confidentiality is key. That’s why we use pseudonyms when sharing our success stories.