#09: Karine Woodman, Bookkeeping Best Practices

Karine Woodman is the Founder of 24 Hour Bookkeeper, a company with expertise in construction accounting and systems integration. Karine has spoken extensively on construction bookkeeping topics, and is one of the best minds in the industry. She has built an award-winning team that strives to help businesses create efficient systems and simplified workflows using QuickBooks Online and 3rd party applications. She’s passionate about entrepreneurship, loves the world of business, and is on a mission to guide businesses to financial clarity.

Show Notes:

[2:30] – The systems you need to create a best practice accounting system.
[4:35] – The benefits of Quickbooks Online over Desktop.
[5:50] – Using 3rd party construction software for job costing.
[8:35] – The benefits of purchase orders in project management.
[11:50] – Why you should be reconciling monthly.
[14:20] – Karine’s take on construction draws.
[17:30] – Ensuring your draws and expenses are properly matched and the job remains well funded.
[18:40] – Integrating Co-Construct and Builder Trend into Quickbooks.
[20:30] – Properly managing clients’ funds during a construction project.
[24:30] – Karine’s journey building and scaling her own business.
[31:30] – Karine’s advice on automating and scaling.

Selected Links:

Quickbooks Online
Co-Construct
Builder Trend
apps.com
knowify.com
Scaling Up: How a Few Companies Make It…and Why the Rest Don’t (Rockefeller Habits 2.0)