For most successful construction businesses, overseeing each project’s moving parts and staying on top of financials and project costs can be easier said than done. A tip is to outsource construction bookkeeping to ensure smooth workflow.
For a construction company, bookkeeping is crucial to ensure you make the right decisions with the right information about your finances. However, delegating these administrative tasks can help with labor costs, overhead costs, and countless other benefits when you are a business owner and short on time.
If you are looking for bookkeeping services for homebuilders or hoping to hire a trusted and reliable virtual assistant for your construction company, we can help you hire, train and onboard the right virtual employee for your team.
Here are some helpful bookkeeping tips and tricks to help set you up for success when you want to outsource construction bookkeeping:
Tip #1: Understand Your Construction Business Needs
If you want to outsource your construction bookkeeping tasks, it is important first to figure out what kind of help you need to hire the right person.
Most businesses need help keeping up their bookkeeping and accounting work, but they could also use help with different contract revenue recognition methods and financial recordkeeping.
We suggest you outline exactly what kind of financial processes and administrative help you are looking for. Consider bookkeeping and accounting tasks that are taking up valuable time that could be better spent on other important aspects of your business.
By understanding the specific areas you need help in for your construction business, you can ensure that the outsourcing process aligns perfectly with your operational objectives.
Tip #2: Define the Scope of Work
Once you have identified your construction company’s business needs, the next step is to define the scope of work that your potential virtual assistant will handle. This involves outlining specific tasks that they will be responsible for, such as processing invoices, payroll management, accounts payable, tax preparation, generating financial reports, keeping financial records or helping track expenses from a business bank account.
In order to work well with your virtual assistant, it is important to be clear about what tasks you need help with and what you expect from them as you are working through the hiring process. This will make it easier for your assistant to work effectively and get things done efficiently. It also helps you set the stage for setting the right communication and feedback.
Tip #3: Look for Industry-Specific Experience in Construction Companies
Each industry has unique challenges and requirements, and the homebuilding and construction industry is no exception to this rule. That is why it can be really beneficial to find a virtual assistant for construction companies with specialized knowledge and financial expertise in the construction bookkeeping industry.
An experienced virtual assistant with a deep understanding of the construction industry can use their skills and knowledge to tackle the complicated financial tasks specific to this industry, such as job costing, construction contracts, tracking business expenses, and handling accounting software.
With an experienced virtual assistant, you will find your financial processes for construction businesses are streamlined, giving you more cash flow and more time to focus on your construction project operations.
Tip #4: Evaluate their Skills and Expertise in Construction Bookkeeping
You will want a virtual assistant that already knows the tools of the trade. Ensure your virtual assistant can use the bookkeeping and construction accounting software that is essential to your operations. We can help you find virtual assistants that are well-versed in common construction accounting and bookkeeping software like QuickBooks, Sage, or other construction-based accounting systems.
Also, get a feel for their comfort with administrative skills, attention to financial detail, and communication skills, which are all crucial for working in the construction industry.
Tip #5: Conduct Interviews
The interview is one of the most important parts of the hiring process when looking for a virtual administrative assistant. Our team at Virtual Construction Assistants will help you find the perfect candidate for your construction accounting needs and present you with two candidates to interview.
These interviews, whether through phone or video calls, can give you a better understanding of the candidate’s skills, experience, and work ethic. You will also have a chance to ask industry-specific questions to ensure they are qualified and able to manage the construction projects and jobs to your expectations.
Tip #6: Check References From Other Construction Companies
References provide a great way to get valuable insights into your virtual assistants’ reliability and work quality. Do not just rely on what is on paper— we can help you reach out to previous clients or employers, review their testimonials, and ensure the candidate’s reputation fits your construction company’s expectations.
Tip #7: Start with a Trial Period
To make it easier to adjust and test out your virtual assistant, sometimes you can implement a trial period to see how well everyone works together and ensure your virtual assistant will fit your specific needs.
This can be helpful to confirm they will provide you the right services and ensure everyone is comfortable with the expectations and arrangements you have outlined.
Outsource Your Construction Company Bookkeeping and Financial Management with Virtual Construction Assistants
From managing a construction project to handling a separate business bank account, finding the perfect virtual construction assistant can take your construction business to the next level. Many construction companies can benefit from bookkeeping and accounting services, whether you are a small business or doing larger construction work.
Outsourcing bookkeeping tasks to a virtual assistant maximizes your ability to focus on your construction projects and improves efficiency and accuracy in your financial management.
Give our team a call to get the construction accounting and bookkeeping services you need to grow your construction company and manage your accounting software today!
