Contractor Bookkeeping

FEBRUARY 28, 2014

There Are Three Steps To The Contractor Paradigm Shift: #1 Unfreeze - Open the portals of your mind and be open to new ideas and test them to determine if they are in agreement with your core values. #2 2 Change State - Arrive at a new understanding about something. Cash flow issues kill contractors even though they have profit.

Profitability 48

Profitability Contractors Cash Flow Accounting 48

Construction Business Owner

MAY 24, 2012

ACCOUNTING |. Accounting & Finance. It’s hard to think of examples where this is a good idea in any business. And for good reason, since the way accounting and business management use software is much different from the way construction operations and project management use it. Tags accounting. change orders.

Construction 120

Construction Software Software Iowa 120

Construction Business Owner

OCTOBER 25, 2011

ACCOUNTING |. Accounting & Finance. And for my time, I usually walk away both inspired and loaded with new ideas to put to use. Even one new idea can be worth its weight in gold…but that’s just my opinion. Education leads to improvement, efficiency, and profitability! Tags accounting. accounting software.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

DECEMBER 6, 2011

ACCOUNTING |. Accounting & Finance. My take on this idea is very simple: Stay Hungry. Tags accounting. accounting software. change orders. Construction Accounting Software. Tags: accounting , business , business owner , construction , software , stay hungry stay foolish , steve jobs.

Construction 195

Construction Software Software Accounting 195

Construction Business Owner

OCTOBER 10, 2011

ACCOUNTING |. Accounting & Finance. Ideas start flowing and problems are solved. Through our discussions, we shared ideas about what the profile of such an employee might be. Tags accounting. accounting software. change orders. Construction Accounting Software. STRATEGY |. MANAGEMENT |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JANUARY 10, 2012

ACCOUNTING |. Accounting & Finance. Getting people and processes in place is like Jobs’ wearing the same basic outfit—it eliminates minor decisions and troubleshooting so that you can focus on bigger decisions, ideas, and growing your business. Tags accounting. accounting software. change orders.

Construction 174

Construction Software Software Accounting 174

ProcurementExpress.com

JANUARY 2, 2019

Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. From an accounting perspective, WIP represents an asset on the balance sheet. Slow Work in Progress Figures Just Don’t Work.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

Construction Business Owner

MAY 17, 2012

ACCOUNTING |. Accounting & Finance. OSHA has been grappling with the idea of developing a specific ergonomic standard for the construction industry. So what are your thoughts and ideas regarding ergonomic applications in the construction industry? Tags accounting. accounting software. change orders.

Construction 120

Construction Software Software Injury 120

Construction Business Owner

SEPTEMBER 13, 2011

ACCOUNTING |. Accounting & Finance. « Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. » Considering New Accounting Software? Kids are back at school, football has started up, and contractors all over the country are starting to consider new accounting software.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

MARCH 6, 2011

ACCOUNTING |. Accounting & Finance. I just finished reading Steven Rattner’s book, Overhaul – An insider’s account of the emergency rescue of the automakers. Let me know if any of you have done this before or have any ideas for putting together a stress test model for the construction industry.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

OCTOBER 26, 2011

ACCOUNTING |. Accounting & Finance. A general contractor once told me that his accounting staff used to input time cards into their accounting software and then input the same data again in their job costing spreadsheets. Tags accounting. accounting software. change orders. STRATEGY |.

Cash Flow 120

Cash Flow Construction Software Software 120

ProcurementExpress.com

JANUARY 2, 2019

Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. From an accounting perspective, WIP represents an asset on the balance sheet. How Does WIP Fit into the Construction Business?

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Construction Business Owner

JANUARY 5, 2012

ACCOUNTING |. Accounting & Finance. I hope these ideas help as the year starts and we get closer to the construction season. Tags accounting. accounting software. change orders. Construction Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |.

Construction 120

Construction Bidding Software Software 120

Construction Business Owner

OCTOBER 20, 2011

ACCOUNTING |. Accounting & Finance. Not too long ago, or so it seems, we were more than ecstatic at the idea of being able to call our project managers in the field on mobile phones. Tags accounting. accounting software. change orders. Construction Accounting Software. STRATEGY |. MANAGEMENT |.

Construction 136

Construction Software Software Project Management 136

Construction Business Owner

MARCH 29, 2012

ACCOUNTING |. Accounting & Finance. I hope these ideas will help with your construction business management. Tags accounting. accounting software. change orders. Construction Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

DECEMBER 1, 2011

ACCOUNTING |. Accounting & Finance. And these are not light-weight “apps” – these are powerful enterprise systems for accounting, financial management, project management, HR, and more. cloud computing) is going to bring us closer to that idea. Tags accounting. accounting software. change orders.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

MARCH 29, 2012

ACCOUNTING |. Accounting & Finance. Drawings have been used by designers for centuries to communicate ideas to the construction trades. Tags accounting. accounting software. change orders. Construction Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |.

Construction 120

Construction BIM Software Software 120

Contractor Bookkeeping

JULY 7, 2014

Owning a construction company is so much different from just working for another construction contractor and in most cases, new contractors had no idea what was involved in the business end of the operation before they started. Reconcile The Bank Accounts. Reconcile The Credit Card Accounts. Reconcile The Credit Card Accounts.

Contractors 49

Contractors Accounting Banking Project Management 49

Contractor Bookkeeping

JUNE 18, 2013

Three Steps To A Paradigm Shift: #1 Unfreeze - Being open to a new idea that is in agreement with your core values. #2 2 Change State - Arriving at a new understanding about something. Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template).

Cash Flow 48

Cash Flow Construction Change Orders Contractors 48

Contractor Bookkeeping

FEBRUARY 14, 2014

If you were to research some of the newspaper and magazine articles from the early 1800''s though today regarding the construction industry and contractors in general you will find not much has changed. It has always been and will likely always be that: 95 out of 100 contractors will earn less than 3% net profit. per hour (See below).

FAQ 49

FAQ Contractors Accounting Security 49

Contractor Bookkeeping

JANUARY 2, 2015

The idea was you would do all the work they would get half the profits and you politely refused, or not? Did You Use Your Personal Credit Cards - And supplier accounts to finance your new business and perhaps you were not careful about what you bought? Bank Accounts - Set up two bank accounts in your company name.

Construction 48

Construction Insurance Accounting Claims 48

Contractor Bookkeeping

JULY 18, 2012

Put the wrong foundation under your business and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you really need in order to operate and grow your business profitably. We spent years and thousands of dollars developing a process that works with QuickBooks.

Commercial 54

Commercial Contractors Remodeling Cash Flow 54

Contractor Bookkeeping

MAY 16, 2014

1 - What do you know about construction accounting? Go deeper ask about how they handle Work-In-Process (WIP), Retention, Job Deposits, Maintenance Agreement Tracking, Change Order Tracking, Payment Applications. Do they have the 10,000 hours of training and practice it takes to be good at construction accounting?

Contractors 48

Contractors Accounting Office US 48

Job Order Contracting

DECEMBER 13, 2020

The key to consistent delivery of successful projects therefore lies in the ability to account for and/or manage variations as they occur. The ability to successfully account for and manage change during a project lies in an organization’s leadership and level of maturity relative to its strategies, processes, goals, and resources.

Project Management 161

Project Management Capterra Organization Management 161

Autodesk Construction Cloud

DECEMBER 20, 2021

While a rewarding career, a PM is on the scene to juggle change orders, large teams of workers and unexpected issues–all while ensuring all work meets expected quality, budget and schedule. Flexible and transparent planning construction project managers see all processes to track productivity and make changes when needed.

Project Management 52

Project Management Management Construction Risk 52

ProcurementExpress.com

JULY 15, 2019

There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement, and more. Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. Process Change Orders Quickly.

Cash Flow 68

Cash Flow Contractors Budgeting Budget 68

ProcurementExpress.com

JULY 15, 2019

There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement , and more. Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. Embrace Automation.

Cash Flow 52

Cash Flow Contractors Budgeting Budget 52

Autodesk Construction Cloud

JULY 5, 2022

How you capture, share, manage, and analyze data can play a significant role in a project’s profitability. Here are six key ways to improve your data workflows for higher quality data, more profits, and better project outcomes. Spreadsheets aren’t exactly a shining example of “selling an idea.” Control how you share your data.

Autodesk 92

Autodesk Documentation Visualization Management 92

Building Information Management

JUNE 19, 2012

Contractors are forced to shave their profits to razor-thin margins and gamble on their ability to compensate with change orders and claims on the back end. Owners have no idea what their final project costs are going to be, or the quality of the work.

Contract 40

Contract Renovating Sustainability Industrial 40

Autodesk Construction Cloud

NOVEMBER 2, 2021

With his forward-thinking mindset, he continually explores innovative ideas and processes. He oversees KEI’s offices, maintains quality controls, and coordinates with the company’s officers to ensure profitability. Katy Johnson. Senior Construction Project Manager.

Construction 52

Construction BIM San Francisco Management 52