When you reconcile your bookkeeping accounts, you compare your credit card statements and bank statements with the ledgers in your books to make sure everything is accurate and matches with your reported operating expenses. Just like balancing your checkbook, you should make sure that you reconcile these accounts frequently to ensure that they match up…
Accurate bookkeeping for your contracting business helps you make better business decisions. Your books are the financial records that indicate the health and state of your company. However, it’s not only the numbers that matter. You also need to make sure that you have clean financials if you want to be able to make data-driven…
Are your contractors employees or 1099 contractors? Contractors need to know that simply signing an independent contractor agreement with a worker or sending them a Form-1099 does not mean that the IRS will agree. The IRS may decide that the individual classified by your business as an independent contractor is actually a W-2 employee. IRS…
Individuals working in the construction industry enjoy lots of perks. However, one of the perks that is often overlooked or under-utilized is the tax deductions that construction workers and construction contractors have available to them. The typical nine-to-five employee has few deductions available, whereas construction workers can deduct everything from hard hats and gloves to…
Construction Bookkeeping Tips Looking for construction bookkeeping tips? Here’s one – don’t. Contractors are not bookkeepers. We’ve had many clients come to Apparatus asking for bookkeeping help. At minimum, these guys are spending at least four hours a week on their books. Even if you’re spending just an hour a week on your books, it’s…
How Delegators Save Time, Gain Focus, and See Success How is your business running? More importantly, which of the four business roles are you playing to keep it running? The 4 Business Roles Are you a Laborer, Contributor, Supervisor, or Delegator? I’m willing to bet 80% of our readers fall into one or more of the…
CRM for Contractors and Project Management Tools CRM for contractors, or Customer Relationship Management tools, are becoming more popular than ever in the construction and contracting industries. This trend is partially due to the wide accessibility of digital technology and smart phones. It’s also a result of the number of contractors getting serious about refining their…
How Referrals Can Boost Your Business A great referral program can end up delivering a huge portion of your overall sales. Even better, once set up, this lucrative marketing engine runs almost entirely on its own. This frees up your precious time for other activities and initiatives. Unfortunately, many small contracting companies get lost when…
The Basics of Contract Writing Successful contractors recognize when the time comes to operate using written contracts instead of simple handshakes. Contract writing is not for everyone, and even those who do it well don’t necessarily enjoy it! Nevertheless, contracts are a crucial part of your contracting business. Contracts legally protect your work performed. They…
Social Media for General Contractors Every small business should incorporate social media in to their marketing strategy. Social media for general contractors is no exception. Social media shines visibility on your construction business through digital platforms, for little to no cost. There are more than a few social media platforms out there, but we think…
The benefits of outsourcing bookkeeping and accounting offer numerous advantages for construction industry contractors over competitors who don’t outsource. In this blog, we’ll identify some of the benefits of outsourcing bookkeeping and accounting as well as offer some suggestions on what you can do with the time and money saved in the process. Benefits of…
Every contractor knows that you just can’t win every customer. Customers and clients always enter each situation with their own perspectives, experiences, and expectations. It’s nearly impossible to ensure that each client has the perfect experience that you strive to provide. Nonetheless, it’s also important to learn how to deal with difficult customers and to…
Brand Communication Strategy to Establish Credibility As a contractor and small business owner you’re probably familiar with the word “branding”. Branding is a marketing term that refers to the efforts a business makes to establish its voice, message, and mission in everything they do. A business’s identity is spoken and showcased through its brand which…
IRS employee vs independent contractor reclassification is sometimes necessary as your business evolves. In this blog we’ll demonstrate how to protect your business and stay in IRS compliance. How to Reclassify Your Workers to Stay in Compliance As a general contractor, you’re familiar with and successful at running jobs and completing projects. This is in…
Planting Marketing Seeds for Sustainable Growth The holidays are just around the corner, so now is the time to think about marketing ideas for the new year. And, yes, this season is already so jam-packed it’s hard to imagine trying to fit anything else into your schedule. So, we won’t ask you to. Instead, we’ve…
Create a Facebook Business Page with this illustrative step-by-step guide and boost your social media visibility for your construction contractor business. How to Create a Facebook Business Page Step-By-Step Guide There comes a time in every business’s life when old school marketing and word of mouth efforts just aren’t enough. The time to take your…
Bookkeeper Vs Accountant – Bookkeeping Vs Accounting Bookkeeper Vs Accountant as well as bookkeeping vs accounting have distinct differences. Discover the differences & why have both is necessary for success. Understanding the Roles within Your Financial Team You’ve seen the words CPA and bookkeeper used a lot, sometimes interchangeably. Maybe it’s been a source of…
Goal Setting in Construction – Working Intentionally for Long-Term Results Today let’s talk a little bit about goal setting in construction. It’s a highly-regarded and fairly well-understood concept, yet it is not practiced often enough. We’re big believers in goal-setting here at Apparatus. Creating a goal inspires a mental picture of growth, forward movement, and…
Classifying workers appropriately is important for your financials and the IRS Independent Contractor Test can help you determine if you are classifying workers correctly. IRS Independent Contractor Test: Is Your Worker an Independent Contractor or an Employee? Most general contractors and subcontractors will run into this situation at some point in their careers – is…
Pre-client meeting preparation is important. Following are questions to ask a contractor to assure they are suitable for the job. Contractors, if you want to impress your clients, be prepared to answer these questions. Impress Clients and Land Jobs As the representative of your own business, your goal is to consistently impress clients. You’ve probably…
Here are 8 tips on how to grow your business successfully. If you want the best contractor business possible, develop these habits in your daily operations. Create Your Best Contracting Business Contractor Habit 1: Get in the Habit of Goal Setting Do yourself a huge favor and get into the habit of running your contracting…
Understand Your Rights and Protect Your Jobs – A Guide for General Contractors Preliminary Lien Notice or Pre-Lien Notice As a contractor, you know there are several steps involved in starting a new job. From initial assessments, defining the scope of work, securing subcontractor estimates, hiring subcontractors, finding suppliers, signing contracts and more: there’s a…
Bookkeeping for Beginners – A Contractor’s Guide Breaking Down Bookkeeping Our Bookkeeping for Beginners blog is designed to give construction contractors a basic understanding of accounting as a first step towards understanding your company’s health and profitability. Bookkeeping – the word itself is a little intimidating. To be the keeper of books, what does it…
What Business Expenses Should You Write Off? The Basics Ah, business expenses. The allure, the luxury, the… confusion? Often when thinking of a standard business expense, the same image comes to everyone’s mind… charging a lunch on the company card. Hey, who doesn’t love free lunch? I know I do. But, business expenses are much…
Owners Draw (Owner’s Draw) An Expensive Shortcut for Contracting Businesses If you’re like most contractors, you’ve been guilty of it at one time or another: taking an owners draw from your business checking account. It’s tempting, it’s easy, it’s your money, right? Unfortunately, it’s also one of the worst habits you can develop as a…