A new set of tools boosts the bottom line for contractors

Ask any contractor and they'll tell you: there's a right tool for every job.

Although many contractors can plane a perfect edge and work magic with drywall, few have claimed to be financial specialists. They'd ignore the books if they could - but, because they need to pay employees and subcontractors, quote on projects for clients and track the money invested in each project from beginning to end, ignoring the books is not an option. To make matters more frustrating many contractors are often away from the office, further reducing the amount of time available for back-office accounting.

Many of today's software programs for small businesses are working to alleviate these. With reliable, easier-to-use programs readily available, more contractors are turning to computer and small business accounting software, such as QuickBooks, to manage numbers, reduce their bookkeeping and let them focus on what they do best: building.

Contractor-specific accounting tools

Time is tight for every contractor, and finding a way to shrink the hours spent working off-site is always valuable. Accurate finances are essential, so companies like Intuit Canada offer their popular QuickBooks software in a contractor-specific version that tracks money coming in and going out, automatically tracks customer changes to estimates, transfers data from estimates to invoices, tracks holdbacks and helps with payroll while organizing the books for tax time.

The next step in managing a contracting business is knowing how to use the right tools. Smart contractors know it sometimes make sense to bring in an expert to take care of specialized jobs, whether it's for the 150-year-old lath & plaster wall or a new estimating system. Many accountants will work with contractors to set them up with a straightforward electronic bookkeeping system the contractor can use in the few spare minutes he has. The contractor can even e-mail files from his PC to the accountant when tax season rolls around.

Winning business in the boom economy

With the economy booming and labour in short supply, contractors are in competition with each other for business and bodies. Specialized accounting software gives them the ability to quickly deliver updated estimates to clients and pay staff on time, and that can be the extra difference that sees contractors win referral business and keep their best employees.

All the features of QuickBooks Premier - plus easy-to-understand accounting, advanced job costing and financial reporting tools. Ideal for general contractors, sub contractors and trades interested in better managing their business & customer relationships.BONUS! ProEst estimating software included.Minimize risk. Maximize Profits. ProEst links seamlessly to Premier Contractor.

Accounting made easy - so you can get back to business

For more information on contractor specific small business accounting software and links to contractor friendly bookkeepers and accounts, visit www.quickbooks.ca.