458: Different Skill Sets Of A Construction Company's Financial Team

<h1 style="text-align: center;"><span style= "color: #0000ff;"><strong>This Podcast Is Episode Number 458, And It's About Different Skill Sets Of A Construction Company's Financial Team</strong></span></h1> <div>As your construction business grows, it's essential to have trusted financial professionals managing your books and providing strategic financial advice. </div> <div> </div> <div>After all, the busier you get, the more complex financial management becomes - and the less time you'll have to maintain your books and try to make sense of all the data. </div> <div> </div> <div>However, many construction business owners are not sure of the differences between a construction bookkeeper, a construction accountant, a financial planner, and a Certified Public Accountant (CPA) - or whether hiring one or all of them makes the most sense.</div> <div> </div> <div>Keep in mind that each branch of accounting serves a different function similar to how it works in construction. There are framers, rough carpenters, and finish carpenters, and all three work with lumber, yet in most cases, the skill sets to do everything are rarely found in the same person.</div> <div> </div> <div> <p><span data-preserver-spaces="true">An established, growth-focused construction company will employ the services of both an accountant and bookkeeper. The two professionals ensure that business financials are updated and accurate and that financial health is carefully monitored.</span></p> <p><span data-preserver-spaces="true">If you're still in the early days of your business, you might choose to do the bookkeeping yourself or hire a bookkeeper for a couple of hours a month until it makes sense to bring someone on full time. An accountant, however, should be a key player on your team from day one.</span></p> <p><span style="color: #0600ff;"><strong>Construction Bookkeeper</strong></span></p> <p><span data-preserver-spaces="true">The primary role is to handle a company's day-to-day financial management. A bookkeeper will take care of the small bu