I am in the process of starting a small business, residential drafting and construction services. I have mostly done work for family and friends but I have recently starting getting jobs from others by word of mouth. I know how much to bill per job but I dont know how to professionally as far as invoices, other fees etc. Is there any software out there that can teach me this per my industry or any good reference books? Would it be worth hiring someone to teach me?
Actually, Quickbooks makes a professional suite specifically for construction companies. Through the system, you can track job progress, do progress billing, and create invoices. It’s not cheap, but it’s also not exhoribtant. And, as a business expense, you can deduct it from gross profit for tax purposes.
As to hiring someone, I’d feel it out on your own and get familiar. Then decide who you’ll have do your tax work. Find a local CPA you like. They will most likely keep a bookkeeper (or many) on staff for small business clients. At our firm, one of the services our bookkeepers do is help clients set up/better understand/learn Quickbooks. Then, when you figure it all out, your tax work will be a LOT less expensive, since your books will be in order and almost any CPA firm out there can take your quickbooks file and put it into their system without much hassle at all. Then all the information is easily accessed and entered into their tax software.
Best of luck! :0)
December 8th, 2009 at 7:08 am
There are some good small business software out there. I would suggest you go to Office Depot or Staples. They have the account/record keeping software (personally think that QuickBooks would be a good choice). With that you could create invoices, billing statements, etc. Good luck!
References :
December 8th, 2009 at 7:20 am
I like Quickbooks and there seems to be a lot of pople out there who know Quickbooks (Quickbooks advisers). They should be able to help you setup an accounting system and show you how to use the software.
Periodically, have them stop by and review whts been done and head off problems.
There are other accounting type packages out there probably as good.
References :
I went to the university of hard knocks and this was a tough course.
December 8th, 2009 at 7:56 am
Actually, Quickbooks makes a professional suite specifically for construction companies. Through the system, you can track job progress, do progress billing, and create invoices. It’s not cheap, but it’s also not exhoribtant. And, as a business expense, you can deduct it from gross profit for tax purposes.
As to hiring someone, I’d feel it out on your own and get familiar. Then decide who you’ll have do your tax work. Find a local CPA you like. They will most likely keep a bookkeeper (or many) on staff for small business clients. At our firm, one of the services our bookkeepers do is help clients set up/better understand/learn Quickbooks. Then, when you figure it all out, your tax work will be a LOT less expensive, since your books will be in order and almost any CPA firm out there can take your quickbooks file and put it into their system without much hassle at all. Then all the information is easily accessed and entered into their tax software.
Best of luck! :0)
References :
Accountant.