2020 has been tough… to say the least. While you were dealing with jobsite shutdowns, material shortages, new health regulations (just to name a few), it is no wonder that your financial books were getting further and further behind. But now is the time to get your 2020 books cleaned up!
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Issues with inaccurate books
Having inaccurate books can be detrimental to your construction business. How do you know where you stand financially? How do you know if you can pay your bills? Or your employees? Is your business growing?
It all comes down to having accurate books. You need a good set of financials to successfully run your business with peace of mind. Without accurate books, the bank won’t approve that loan you need for new equipment, or you won’t be able to purchase new lots. You won’t have the right information if you are faced with a worker’s compensation audit and you won’t be able to file your taxes either. Once you get behind, the pile just keeps growing and so do the questions about your financial status. Bookkeeping is probably the last thing on your to do list, but it is certainly one of the most important.
Why it matters
It is so incredibly important to know your financial status, in real time. (And to note, this is not the amount of money that is in your bank account!) You will be able to confidently make decisions for your business and have a clear picture of where you stand, giving you the ability to see patterns for opportunity and growth. Especially when times are ever changing, having current financials will help you pivot and adjust accordingly. Simply put, accurate books = peace of mind.
Not enough time?
It all sounds great, right?! But it takes so much time. Is your time better spent organizing receipts, determining job related cost vs. overhead costs, reconciling all transactions, comparing QuickBooks to project management software or would having the time to actually run and grow your business be more productive? There are so many things that go into accurate books, this process could take you awhile.
No worries! There’s help!
That’s where 24hr Bookkeeper comes in. We are the experts and want to take on the challenge to get your books current. Because we are specialized in construction bookkeeping and accounting, we know common issues you face and we know how to fix them. No matter the size of your project or how complicated it might be, 24hr Bookkeeper can provide you with current financials that you can trust. You can focus on running your business while we get your financials up to date. Leave your outdated books behind! Head into 2021 without the stress and worry of this year’s books weighing you down.
