Bookeeping Services

Debs

That was my advice to someone that doesn't have any trust in someone handling there banking information.

The way you suggested, having her make out the checks and then you verify and sign them is fine. That is pretty standard procedure when working with a bookkeeper. And yes they do have to have access to your bank statements to reconcile them obviously.

Just never forget to pay attention to the details and ask for reports and verification on anything you don't understand.

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Deb

Sarah9910

It's always a good idea to have the bank statements mailed straight to the owners home AND have a different peson do the bank reconcilliation than signs the checks if it's not the owner.

Have GEM's Virtual Office do the bank reconciliation monthly if someone else is writing the check. Her rates are great and it can't take long to do a bank reconciliation.

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Sarah Keiser, Business Consultant for Contractors
Success In-Formation LLC
Leading the Way in Software Education
www.successif.biz

rbsremodeling

I think for guys like Mark and myself its a time issue. We are trying to get as much off our plate and have time for what makes us money. It takes my G-friend about 2 hours to do the monthly reconciliation and she know whats she is doing some days with missing reciepts and stuff not going right 4-5 hours. This does not include almost daily invoice, bill and recipt ect journal entries. If you are a decent size company it is almost a full time job We don't have or want to spend that time doing this stuff we just want to write a check to a competent and trustworthy person with minimal oversight.

I am jumping in here to really to solicit more answers I know this is a problem for a lot of smaller contractors and I want to hear more on the pros and cons so they can be informed

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Debs

Thanks for the vote of confidence Sarah....and your right depending on the size of the company involved a bank reconcilation can be done in an hour or less, thats without running into any problems....I use QB Pro which makes it a piece of cake if you know what your doing and all the information has been entered in correctly.

Lets see Rory some major pro's to outsourcing your books.......freeing up your time to deal with business or home life, not pulling your hair out swearing because you can't get the numbers to match, always knowing where your company stands profit wise, delegating someone else to make those dreaded "where is your payment" phone calls, having the checks ready for you to sign when they are due, customer service, ect.........

cons ...trying to fill the time you've just aquired

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Deb

ultimatetouch

Rory do you do your job costing through quick books?

I havent been but I think I will write down the customer names on the reciepts and then have her load it in.

I think i will keep using my check book as opposed to quick books checks. Just for the mobility of it and not having to be in front of a computer to write a check. I like the flexability.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

rbsremodeling

Mark yes and no to the job costing

My estimating software produces an estimate that i can send to my G-friend to post in quickbooks. I do all the job costing in my software then I send it over to my girlfriend to post in quickbooks.

The software I use is unique. The average software won't do this.

I would think job costing in quickbooks would be achieved with the bookeeper and your help, setting it up right so you can do the job costing

I know for a fact if you want to do job costing you need to set up your quickbooks right from the start. So you need to let the bookeeper know your intentions of job costing up front so they can know that it is a priority and plan for it

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ultimatetouch

Right now there is no real system for me. I get a bundle of reciepts and then I punch them in for the asigned task (framing, concrete, etc.) ,materials or labor in Excel. Then I tally it up when the jobs over giving me gross profit. Its a drag. i just want to file the reciept and have the bookeeper lode it.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

Debs

Let us know how it goes Mark...good luck

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Deb

ultimatetouch

There seems to be some untangling going on right now. Shes loading things in and asking a lot of questions. I know this is expected. I just look forward to me placing everything in a file just like she wants it and going and doing my thing. Ill keep you posted. I think it will work out ok. She doesnt take jokes very well shes a little stiff. I made a joke about leaving my kid with her when I run some errands. She didnt even crack a smile. Im a smart a** I guess but its fun.

I found out she has most of her own customers but she uses account temps for more business. So I dont have to worry about her finding a full time job.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

rbsremodeling

Mark

There is someone that sells a template for setting up quickbooks for contractors. It set up all the divisions and subdivisions to make tracking jobs easier among other stuff. I used it many years ago when I set up my software. I can not remember who made it for the life of me. Maybe one of the other guys has heard of it. It was really helpful and showed my accountant what I was trying to accomplish. Not all bookepers or accountants are knowledgeble about some of the things we need to track or how to list them in quickbooks unless they do books for contractors

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ultimatetouch

Thanks Rory. I think I am going to see what my reports look like. I have been telling along the way how I am going to want it broken down. Such as:framing,electrical, plans and design services, etc. Then I will have a micellaneous job costs for the occasional tarp or broken tool, etc. Costing out those stray materials that I want to be a job cost. Its definetly going to take some fine tuning, so I provide her she provides me what I am looking for.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

Sarah9910

[QUOTE=rbsremodeling;394456]Mark

There is someone that sells a template for setting up quickbooks for contractors. It set up all the divisions and subdivisions to make tracking jobs easier among other stuff. I used it many years ago when I set up my software. I can not remember who made it for the life of me.

Info Plus Accounting, Diane Gilson sells this, go to www.infoplusacct.com I think is her website.

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Sarah Keiser, Business Consultant for Contractors
Success In-Formation LLC
Leading the Way in Software Education
www.successif.biz

Debs

Hope everything works out for you Mark, maybe she'll lighten up some when she gets to know you better. Nice that you don't have to worry about her running off and finding another job

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Deb

ultimatetouch

The relationship is still needing a quite a bit of work. Maybe I am setting my expectations to high.

No reports were printed. I left her a list of things I wanted to accomplish. She spent exactly 8 hrs loading some credit card statements and bringing the books up to par for this year.

The whole point of having a book keeper was to have accurate and up to date reports at the time she left. TO figure out how she wants me to file the info so that I could have minimum time involved in bookeeping. She felt the job was complete in her eyes and I felt like she was not hearing what I wanted because she obviously didnt address them. She did not even mention meeting up again before next month. I dont care if she took 12 hrs if I got what I wanted to get out of it.

My files were organized, in the sense that if she wanted credit card statements, reciepts, bank statements I would have them in front of her in seconds. My office is in the basement and it gets cold in the winter so I fetched the files she wanted.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois

Debs

Did you talk to her at all before she left to see where she left things. Does she have the books up to date to the point that reports were ready to run?

You'll have to communicate with her to see why she didnt leave any reports as per your request and see what she has to say and if they aren't things up to date yet, would she be willing to come in before next month to get things finished?

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Deb