Making financial management more streamlined for our clients in the construction industry is our top priority. Not only are we thankful for being able to work smarter, not harder, but our clients are thankful as well. We’ve compiled a list of some financial management tools that we at 24hr Bookkeeper are thankful for!
1. The Banking Tool In QuickBooks Online
This is a bank feed that pulls all transactions in real time. It’s function connects our clients’ online banking accounts to the QuickBooks registers and it allows us to be proactive in managing transactions and be the second set of eyes that we know our clients need. Every time their card is swiped or every time a check is cashed we can see it all happen immediately instead of having to log into their online account. This tool also allows us to verify account balances without having to wait for the statements at month-end, which can then prevent errors and catch unapproved charges.
2. Construction Software
This is a way of streamlining the process from the project management side. It allows project management to be more automated versus the need of using spreadsheets. With spreadsheets, only one person can create updates at one time. Construction Software allows multiple people to move jobs along better and it also allows everyone to be on the same page. All teams across the board are able to work together through one platform and help our clients stay up to date on their budgets. Not only does this make the whole process easier and more efficient, but it also saves you time because all of your information is in one place.
3. Software Integration Tools
Software Integration makes our clients’ lives much easier because it gives them the option of having more robust functionality. 24hr Bookkeeper encourages our clients to integrate their applications because it allows us to be visible in the other areas of their business that relate to financial management. It also allows us to pinpoint specific problems that need to be resolved and fix them with applications that are tailored to that issue. Integrating software and applications is a way of tying everything together in the most efficient and timely way possible. It is a way to utilize tools that can go a lot deeper than QuickBooks alone can. Desktop Products are no longer the best option for construction companies with everything that’s available online.
4. Receipt Capture in QuickBooks
It is similar to the bank feed feature as mentioned earlier in terms of real time access. Receipts can be captured and displayed instantly after the transaction is made with just a click. All our client has to do is snap a photo of their receipt and it instantly gets put into QuickBooks. This eliminates the need of having to manually scan a receipt, save it, upload it, and email it. An incredible time saver! No more manual work needed and no stress of losing the receipt in the process, just a snap of a photo on your phone and you’re all set. On our end it eliminates the wait time of processing each and every receipt and waiting for the details to come through. We see it automatically.
5. Custom Reports in QuickBooks
This feature in QuickBooks is a win-win for us and for our clients alike. It allows us to create what the client needs and wants, including customizing what they see and how they see it. We are able to provide our clients with multiple reports that give them a good snapshot of how their construction business is doing. Sometimes our clients want to get into the details of their financials and by having the capability of customizing any report allows us to give them what they are looking for. We are able to filter for different dates, customers, accounts, and many other categories. With this feature there is no limit to how we customize information.
These are just some of the tools that we use on a regular basis here at 24hr Bookkeeper. There are many more financial management tools to list, however, these are the most common and most reciprocal between us and our clients. We, and our clients in the construction industry, are thankful to have them and to be able to stay streamlined!
