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03: How To Create A Financial Dashboard For Your Business with Randal DeHart
Description
Are you looking to grow your construction business, but hate bookkeeping and accounting? Are you skeptical about hiring any accountant for fear of embezzlement or being ripped off? If so, tune into today’s podcast to get quick and easy tips on how to turn a people-dependent money pit, into a process-dependent cash cow with today’s guest, Randal DeHart. You don't want to miss this valuable episode!
Listen and Randal and Dave discuss:
- The difference between construction accounting and regular accounting
- Differences between costs and expenses
- 5 key performance indicators and setting up a dashboard
- Why you should use QuickBooks
- Easy tips to do your own accounting
- Getting in touch with people to help you set up your dashboard
- Top problems and causes for embezzlement
- Setting up programs to avoid rip-offs
- Being smart with your money
- Getting involved with a bookkeeping company
- The system Randal’s company uses
Business Quick Tip:
We found out that we were having a lot of customer call backs on our work, at one point in our business. Most of the time it was a leak that was causing problems. We ended up developing The Perfect 10 Checklist and sent an inspector to the job site at the end of every job to access how well the crew did the top 10 things that caused leaks. If they scored a Perfect 10, then the crew got a bonus. We were able to cut our call backs by 90% with this simple checklist. It also cut our costs and improved customer satisfaction. It's a win-win. Go to the website to get the checklist and start implementing it!
Resources Mentioned:
fasteasyaccountingstore.com - for DIY Solutions
The Contractors Success Map Podcast
(206)361-3950
Sharie@fasteasyaccounting.com (email)
Contractor's Success Map - the podcast available on iTunes