Most people assume that hiring an outside firm has to be more expensive than hiring someone internally. In most cases, outsourcing your accounting to the right firm can actually be cheaper than doing it in-house, especially when considering the overhead involved.

Outsourcing to the right firm also usually yields better results than a do-it-yourself model. Consider the do-it-yourselfer trying to do construction - it may eventually get done, but doesn’t quite look right, may not be up to code and usually takes longer to accomplish the result. It is the same with accounting - trying to do accounting with someone that has minimal training to begin with, much less construction accounting, usually leads to less than satisfactory results as well as typically taking longer to accomplish.

Construction accounting has different and more complex rules and is not taught in schools. As a result, most owners get very frustrated when trying to hire someone internally - they talk a good game in the interview, but they can never get those job cost reports in a timely manner. When they do get them, the owner can easily see they don’t look right.