Dec 4, 2015
This Podcast Is Episode Number 0141 And It Will Be About Ten Solid Reasons Not To Have A Bookkeeper In Your Home Office
Recently a contractor and his wife came to our Construction
Accounting office in Lynnwood Washington and related a rather
interesting story about a freelance bookkeeper that was coming into
their home office where they are operating a small construction
company to work on their QuickBooks For Contractors company
file.
They told how the freelance bookkeeper they hired never could get
the bank reconciliation window in QuickBooks to match the bank
statement. The bookkeeper would do a forced reconciliation which
only compounded the problem causing their Financial Statements and
Job Costing Reports to be less accurate and not as useful to them
as they needed.
In addition to several major bookkeeping errors the bookkeeper
insisted that she never did anything wrong and it was the bank's
fault if she could not reconcile the bank statement with
QuickBooks.
Furthermore the contractor and his wife were severely agitated
because the freelance bookkeeper was caught in the master bedroom
going through the couple's jewelry box and regularly inspecting
everything in their bathroom medicine cabinet.
They had read several articles on our blog and a few dozen web
pages on our website Fast Easy Accounting and listened to some of
my Podcasts
Ten Solid Reasons Not To Have A Bookkeeper Come To Your Home
Office
#01 - A Stranger In Your
House. Yes you may be letting your construction
workers come inside your home office but they rarely stay more than
a few minutes and most of them are more interested in what is going
on at the job-site than what is going on in your home and if they
wander off into parts of your home they shouldn't you or your
spouse or children are likely to notice and report it to you.
#02 - Going Through Your
Belongings. Bookkeeping is boring and tedious which
means the bookkeeper may need a break or a distraction. Since the
bookkeeper is inside your home their movements tend to go
unnoticed. Some bookkeepers are curious about what you have in your
medicine cabinet, jewelry box, petty cash drawer and who knows what
else they may find interesting.
#03 - Blackmail
Opportunities. Many times contractors have told us
about how the bookkeepers have snooped around the contractor's
email, USPS mail, in their desk drawers and listened in on phone
calls looking for opportunities to Get-Rich-Quick by finding
something to black-mail the contractor with. In one case a Bad
Bookkeeper discovered the contractor was having an affair with
another married woman and used the information to get a raise in
pay and be promoted to Office Manager. It lasted for a short while
until the contractor broke off the affair and fired the
Bookkeeper/Office Manager.
#04 - Wrongful
Termination. Wow! This is a big one! You do not
have an employment agreement with your staff or a Letter of
Engagement with you freelance bookkeeper and you decided to be like
Donald Trump and say "You're Fired!" The next thing you know the
bookkeeper has filed for Unemployment Benefits and shortly after
that you get a letter from his or her attorney asking why you
terminated their employment without just cause? Be prepared to hire
an attorney and spend lots of money to make up for the poor
mistreated bookkeeper's pain and suffering.
#05 - QuickBooks Is A
Disaster. No surprise there. You thought all
accounting was the same and since the bookkeeper you hired worked
for another construction company for several years before they
filed bankruptcy they should know and understand construction
accounting. In most cases not so because there is a world of
difference between construction accounting and regular accounting.
Look inside QuickBooks Chart of Accounts and if you see less than
25 Cost of Goods Sold Accounts chances are you have a regular
bookkeeper, not a construction bookkeeper.
#07 - Bookkeeper Working In
Your Home Office Can Embezzle Easier. Bookkeeper
embezzlement is on the rise and the first thing any embezzler has
to do is gain your trust. What better way to start then being
invited into you home, the place where you are supposed to feel the
most safe and secure. Click Here To Learn About The 21 Signs of
Bookkeeper Embezzlement to protect yourself, your family and your
assets.
#08 - Food Poisoning Or
allergic Reactions. You have food and beverages in
your house and some of the containers have been opened or never
sealed in the first place like the milk jug, soda pop bottle,
leftovers, fresh baked goods or any number of food and beverages.
Unless you have a food handler's license or permit and the
appropriate safeguards in place like a five star restaurant and a
commercial restaurant liability insurance to protect you (I doubt
your construction company liability policy will be much use, check
with your insurance agent) and your bookkeeper becomes ill guess
who is likely to pay all of the medical bills, time of work,
rehabilitation and pain and suffering? You! And get in line with
all of the other business owners who said "Nobody told me not to
serve unsealed food and drink" because ignorance is no defense.
#09 - Sexual
Harassment. It is too easy for the bookkeeper to
claim since sexual harassment since he or she is inside a private
residence and not in a public place like an office building where
there are more people. And just know it can be very costly for you,
the big bad contractor or your spouse to defend the claim
regardless what happened or did not happen.
#10 - Your QuickBooks Files
Walk Out The Door. Most contractors with a home
based business never back up any of their files and especially
there QuickBooks files and when the bookkeeper decides to leave all
too often it is because QuickBooks is a disaster and in some cases
they simply download it onto a flash drive and take it with them to
hold for ransom, their final paycheck or payment. The poor
unfortunate souls who do think they are backing up their QuickBooks
files rarely get the chance to test the system until the try to
restore a bad, corrupted, lost or stolen QuickBooks file and that
is when they find out the hard way there a several data files that
go into making QuickBooks work. It is not like backing up an Excel
file or Word document. Most commercial backup services like
DropBox.com and Box.com make it clear in their license agreements
that QuickBooks file backups are not guaranteed to work. I will not
even go into the number of contractors who thought the QuickBooks
backup system inside QuickBooks works, google "why doesn't my QuickBooks backup work" and see
for yourself. The only sure way we have found is to have our own
web server inside an Intuit Commercial Hosting Environment.
The Final Statement From
The Contractor's Wife Is Priceless
"I will never have to meet you again (Sharie), you will never come to my house because with technology we can make everything work."
I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.
We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!
That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.
I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.
We Remove Contractor's Unique Paperwork Frustrations
We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!
That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.
You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives!
I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast
This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com
Thinking About Outsourcing Your Contractors Bookkeeping Services?
Click On The Link Below:
This guide will help you learn what to look for in outsourced construction accounting.
Need Help Now?
Call Sharie 206-361-3950
Thank you very much and I hope you understand we really do care
about you and all contractors regardless of whether or not you ever
hire our services.
Bye for now until our next episode here on the Contractors Success
MAP Podcast.
Warm Regards,
Randal DeHart | Contractors Accountant