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How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

These costs arrive in the form of dry rot, cracked foundations, broken plumbing, bad wiring, worn out HVAC and other unpleasant surprises. The remodel contractor uses a form of "Cost Plus" or "Not To Exceed" to provide the homeowner with scope of work and a contract price the bank needs in order to finance the construction.

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Turbocharging Motown’s Recovery

Buisness Facilities Contributed Content

A few hours after the pixels for that post were hatched, Detroit announced it had become the largest city in history to file for bankruptcy protection. We are committed to helping make that future a reality,” the bank said, in an internal document acquired by The Detroit Free Press and posted online.

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Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

You Want Money; Banks Want To Lend Money, What''s The Problem? Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money. Banks stay in business is by loaning money and earning interest. Finally a Z-Score is compiled which is a formula for predicting bankruptcy.

Finance 48
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Stop Bookkeeper Embezzlement In Your Construction Company

Contractor Bookkeeping

Being Ripped-Off And Driven Into Bankruptcy! This is, always has been and will continue to be a major headache and in some cases the direct cause for construction company owners to file business and personal bankruptcy. 13 - Your Bookkeeper - Is the primary contact for your company''s banks, auditors, creditors, etc. #14

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Job Costing Accounting Vs. Regular Accounting

Contractor Bookkeeping

Having QuickBooks Setup the right way for construction is the foundation for having a useful job costing reporting system. If the contractor believes the company is undercharging they may raise bid prices, lose jobs, eventually run out of cash and file bankruptcy. Cheap Bookkeepers Cannot Do Job Costing.

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Completed Operations: A Contractor’s Guide to Coverage, Cost, & More

Levelset

If the home’s foundation or siding was damaged when the deck collapsed, completed operations would pay for the repair. Several months after the deck is complete, it collapses with the owner on it and he or she gets hurt. Completed operations coverage will pay for the homeowner’s medical costs. Plumbing failure. Coverage limits.

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Scam Artists Are Calling Contractors Claiming To Be From The IRS

Contractor Bookkeeping

It is no secret that contractors are in an industry with a lot of cash transactions and sometimes they get busy and forget to deposit the money in the bank and properly account for it inside their contractors bookkeeping services system. These fears go a long way to helping the scammers achieve their goal. Click Here For More.

IRS 48