0412: The Right Accounting Software Can Increase Your Profits

<h1 style="text-align: center;"><span style= "color: #0000ff;"><strong>This Podcast Is Episode Number 412, And It's About The Right Accounting Software Can Increase Your Profits</strong></span></h1> <p><span data-preserver-spaces="true">Most construction business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions. </span></p> <p><span data-preserver-spaces="true">What three reports do you need for your construction business?</span></p> <p><strong><span data-preserver-spaces="true">#1 Cash On Hand</span></strong> <span data-preserver-spaces="true">- This report shows you how much cash you have in your checking accounts, savings accounts, payroll accounts, hip national bank (your wallet), and petty cash box in your office. </span></p> <p><strong><span data-preserver-spaces="true">#2 Cash Coming In</span></strong> <span data-preserver-spaces="true">- This report shows you how much cash your customers and clients owe you and how much of it will be likely to receive in the next 30-60-90 days.</span></p> <p><strong><span data-preserver-spaces="true">#3 Cash Going Out</span></strong> <span data-preserver-spaces="true">- This report shows you how much cash you owe yourself, suppliers, employees, and the taxman and how much of it will be likely to pay out in the next 30-60-90 days.</span></p> <p><span data-preserver-spaces="true">It used to be QuickBooks was the only real option for construction companies to generate a decent set of Financial Reports and Job Costing Reports, and that is still true.</span></p> <p><span data-preserver-spaces="true">Our biggest pain point with QuickBooks has always been it is like a large semi-truck with two trailers capable of moving massive amounts of data which is great if your construction company needs Work In Progress (WIP) Reporting, Pay Application Invoicing For Large Residential Remodels, Pay Applications For Comme