Are you struggling with your bookkeeping? You’re not alone.
Bookkeeping in the construction industry is incredibly complex! So we wanted to share some of the ways an accountant can save you a shed load of stress whilst also improving the efficiency of your business!
Here are 4 ways your accountant can help you run your construction business more efficiently:
1) Make your business paperless
There are many benefits to running a paperless business. It’s better for the environment, it saves you so much time, and you can rest assured knowing all your documents are stored safely on the cloud.
However, if digitising your documents fills you with dread, you can always ask your accountant to do it for you! They will set you up with all the relevant software such as Dext, so you can control any admin task from your phone or computer.
Not to mention, going digital will also ensure your business remains up to date with the latest MTD legislation.
2) Outsource your bookkeeping
Bookkeeping is a long and arduous task for any business – but that challenge is only amplified for those in the construction industry. Monitoring job costings, biddings and progress billing on top of the usual accounts payable and receivable is a daunting task indeed.
So why not let the experts handle it? Their knowledge and expertise will ensure your books are always accurate and compliant with the latest tax rules. So, you can stop stressing over spreadsheets and start focusing on what you do best!
3) Organise digital payments
Another way your accountant can improve the efficiency of your business is by organising digital payments! They can provide you with a card machine to accept on-site payments, supply software like Xero to create online quotes and invoices, or even facilitate P2P programmes like Paypal.
But what are the benefits?
Firstly, digital payments are more convenient, so (in some cases) this can help you win more work. They can also significantly improve your cash flow whilst allowing you to receive real-time updates on your finances.
As a result, you’re able to gain a greater understanding of your finances, make more informed business decisions, and still save time!
4) Offer financial advice
Who better to offer you financial advice than your very own accountant? After all, they will understand your books better than anybody – so take advantage of their expertise!
Your accountant can provide invaluable insight into your finances, create accurate reports and forecasts, and use this information to advise you on future investments and business strategies.
So what are you waiting for? Ask your accountant for financial advice and start boosting your business!
Let the experts look after your books!
There are so many benefits to hiring an accountant and bookkeeper. But perhaps the most significant benefit is how much time they can save you!
Instead of stressing over spreadsheets or second-guessing your calculations, you can use this time to focus on what you do best. So save yourself the hassle and start playing to your strengths – we promise the ROI will be second to none.