The key to a good accounting system for your construction company is a solid foundation. This week, Wade explains where many contractors go wrong when setting up their books for the first time and how to avoid those common accounting pitfalls.

Topics we cover in this episode include:

• Building a solid foundation for your accounting system
• Start with your Chart of Accounts
• Job Costing and how construction accounting is unique
• How to get started when you have no system in place
• Reporting the right amount of detail
• Purchase Order systems

LINKSVisit the episode page at https://contractorsuccessforum.com/accountingmistakes for more details and a transcript of the show.

Find all episodes and related links at ContractorSuccessForum.com.

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Rob Williams, Profit Strategist | IronGateESS.com
Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | McWins.com