If you are a contractor and you have wanted to strike out on your own, then going the home services route may be an ideal option. When you offer these types of services, you may be offering several forms of the service including home remodeling, renovations, repairs, or small upgrades. All of these require some form of bookkeeping or accounting. Here are a few of the bookkeeping and accounting options that are available to you to maintain your financial records.
One of the ways that you can help maintain your financial records for your home service contracting business is to use a freelance accountant. Freelance accountants and bookkeepers can maintain your books and make sure that your financial records are up-to-date. This includes invoicing, payroll, tax returns, and other accounting tasks. For a freelance contractor, you will need to already have software in place. Most freelance contractors use QuickBooks, however, there are other options available. If you have specific software in mind, such as Quickbooks or Sage 50, you can request a freelancer to have experience in those options.
An option you may want to consider is using all-inclusive software through an accounting firm or company. This type of software is attached to your mobile phone, your laptop or PC computer, and any other business system you have that is eligible. The software handles all aspects of your business including keeping track of on-site service payments and expenses. Though the software does automatically designate payments and expenses, you will still need to use an accounting firm that is connected to the software or a freelance bookkeeper to make sure the records are done properly.
There are several supplemental applications you may want to consider. These are especially ideal if you already have accounting software or an accountant that is connected to a specific software you are using. The supplemental applications attached to your mobile phone can be used to act as a point of sale, invoicing, or to track business expenses. They can also be attached directly to the current accounting software that you are using.
These are just a few of the options you have for bookkeeping and accounting for your home services contractor business. If you are considering expanding the management of your financial records, contact your local accounting firm or your local freelance business accountant. They can help you set up software and programs that are suitable for your specific home service business needs. Reach out to other home service professionals to see what else they use.