Jul 17 (edited) in Q&A
Mastery of Money for Roofing Contractors
3 Easy and Quick Steps to set up your Money in your business.
"Mastery of Money for Roofing Contractors" "Free Bookkeeping Course"
Hey there, roofing professionals! Welcome to 'Mastery of Money for Roofing Contractors,' your go-to guide for setting up a solid bookkeeping system when starting your roofing business. I'm Helen DeVries, and today I will walk you through three simple steps to get your money system in place, so you can focus on what you do best - building great roofs!"
"Step 1: Setting Up Your Business Bank Account"
"Step 1 is all about setting up your business bank account. This is crucial for keeping your personal and business finances separate, which makes your bookkeeping much easier and keeps you in good standing with the IRS."
"First, choose a bank that offers business accounts and has good customer service. You'll need your business formation documents, EIN, and personal identification. Once your account is open, make sure all business income and expenses go through this account."
"Step 2 is choosing the right bookkeeping software. This will be your digital assistant in keeping track of all your financial transactions."
"There are plenty of options out there, like QuickBooks, Sage, or even free tools like Wave. Choose one that fits your budget and has features that cater to roofing businesses, like invoicing, expense tracking, and payroll management."
"Step 3 is tracking your income and expenses. This is where the magic happens. You'll need to record every dollar coming in and going out of your business.
"Create categories for different types of income and expenses. For example, categorize your income from different projects and track expenses like materials, labor, and overhead costs. Make it a habit to enter this information regularly, ideally weekly."
"Mastery of Money for Roofing Contractors" "Free Bookkeeping Course"
"And there you have it - three simple steps to setting up your money system when starting a roofing business. Setting up your business bank account, choosing the right bookkeeping software, and tracking your income and expenses will lay a strong foundation for your financial success."
Would love to know what you're thinking about all this!
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Website: Roofforprofits.com
Email: info@roofforprofits.com
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Mastery of Money for Roofing Contractors
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