Summary:

A general contractor thriving in a specialized niche relied on trusted subcontractors for timely and budget-conscious project completion. Viewing accounting as a necessary obligation, the contractor engaged an inexperienced bookkeeper who provided sporadic services without detailed job cost reports. However, a sudden decline in profitability flagged by the CPA prompted the contractor to question the bookkeeper’s competence. Vague responses and unreturned calls led to the bookkeeper’s abrupt departure, leaving the contractor in a financial quandary.

Solution:

• Restructured QuickBooks and reconciled all accounts.
• Implemented standardized job cost practices.
• Introduced a paperless AP approval system.
• Provided financial statement interpretation training for the owner.
• Instituted weekly reviews of ongoing projects.

Results:

• Enhanced gross profit margins.
• Strengthened expense controls and visibility.

Attained peace of mind with JGP Consultants LLC, overseeing financial matters and ensuring impartiality in payment management.