Summer is a very busy time for roofers in Fort Collins and across the Front Range, and with the huge influx of business, it may become difficult to keep up with the books. Roofers and others in the skilled trades often work long hours, dealing with the elements, and are quite tired at the end of the day. So during the summer rush, it might be tempting to just put off dealing with the record-keeping for another time. But beware, this may spell trouble, especially if it becomes a habit!
Hiring a professional CPA to handle your bookkeeping, payroll, and taxes is a great investment for people working in the construction industry. When you decide to work with a local accountant, especially one who has experience in your skill area, you can rest easy knowing that everything will be taken care of perfectly, and your small business will be protected. More and more roofers are turning to accountants to help them stay on track, and here are three reasons why that’s a great idea:
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Large paperwork flow
Roofers and many other contractors work in a field that is flooded with paperwork. Forms and documents from clients, insurance companies, suppliers, and subcontractors can pile up if not filed appropriately, which can lead to snags, time delays, and lost revenue. If you own a roofing company and don’t already have a professional CPA on board, now is the time to hire one. You can let them take care of tracking accounts, so you can focus on growing your business!
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Multiple account streams
Anyone working in the construction or skilled trades knows that there are always several account streams to keep track of. Income from clients and insurance companies, outgoing expenses to payroll suppliers, and legal maintenance is only the beginning, and that is a lot to keep organized. If you would rather be able to focus on your work, instead of crunching numbers, hire a CPA to track your accounts and expenditures.
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Seasonal work
Unlike a lot of other Fort Collins small businesses, roofing companies book the vast majority of their jobs during the summer, leaving their annual income rather lopsided. The winter months are slow and have to be properly budgeted for, while the summer is so busy that it’s hard to stay on top of everything. But with a qualified accountant on board, you can trust that you’ll be able to stay afloat no matter the season and that you’ll be well prepared come tax time!
4. Employee Management
When you are juggling multiple employees within your roofing construction subcontracting business, you are actually managing more than their projects and time. You need to be aware of how employees affect your financials, from payroll to job costing to account for errors in work, to required benefits, to overtime for an employee vs a subcontractor.
Ready to close the gap between your financial potential and where you are now? Find the holes, optimize your business, and get the local construction subcontracting consultant you need with a degree in finance. Contact us today to get started!
