Construction Accounting – Why You Should Outsource It
Why Outsource Your Construction Bookkeeping? A Simple Explanation Of Construction Accounting And Why You Should Outsource It: It is probably the most difficult and complex accounting system ever invented It is deceptively simple, it looks easy, like flying a plane 85% boring, 15% sheer terror At the auction every contractor learns the true cost of cheap accounting EXTERNAL Accounting is all about things going on OUTSIDE your business: Financial Statements for bank loans, lines of credit, investors and bonding requirements Tax returns for local, state and Federal tax returns Bankruptcy court filings, some firms do not generate financial statements until they are here All of these reports and forms are of limited use to the contractor INTERNAL Accounting is all about things going on INSIDE your business: Current bank balances…