Smith Construction Company* had a problem. They were ready to grow their residential construction business, but their accounting was out of control. No matter how hard they tried, the books would not come together. The job cost and general ledger never balanced, and the confusion between cash and accrual accounting was a business nightmare.
Smith’s owner, Martin, knew he had to do something. So, he bought an accounting program specifically tailored to the construction industry with hopes of more efficiently managing his accounting, estimating, and project administration. Unfortunately, the new program only brought uncertainty and frustration. In fact, because the program was so intricate, Martin’s bookkeeper never stopped using the original accounting program, so now she was trying to manage two accounting systems.
Martin realized he needed professional help and turned to the construction accounting experts at On Track Business Management. Donna and her team were able to implement a new accounting system that would meet Smith Construction’s current and future accounting needs. On Track’s team of specialists also provided training for Smith’s bookkeeper and put into place the procedures to make his office run smoothly, as well as providing ongoing support.
With On Track’s help, Smith Construction’s accounting is now running smoothly and the company has grown exponentially. Martin now knows how much money Smith Construction has in the bank and exactly where it is and is not profitable. The new accounting system allows Smith’s Construction to create and track highly-accurate estimates, leading to higher profit and better customer service. Smith Construction Company can now focus on the most profitable jobs—often larger projects which are only awarded to professional, well-run businesses.
Martin learned that profit is more readily attainable with an accurate, easy-to-use accounting system. “One of the hardest things to deal with when trying to grow your business is accounting books out of control,” says Martin. “I’m confident that with On Track’s help, I’ll never have to feel that way again. On Track put me in a position of having options—the best place any business can be.”
*The company name and minor details have been changed to protect client confidentiality.