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Construction Bookkeeping Unique Features

Contractor Bookkeeping

Bank Balance - Un-cleared Checks) = Cash. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. Bank Account - Escrow Deposits. Bank Account - Operating. Bank Account - Job Deposits. Bank Account - Payroll. Bank Account - Operating.

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Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Chart of Accounts Work-In-Progress For Land Developers. Chart of Accounts Work-In-Progress For Land Development Into Lots. Chart of Accounts Work-In-Progress For Spec Builders. Chart of Accounts Work-In-Progress For Spec Home Into Rentals. Chart of Accounts Customer Checks Returned From Bank.

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We Work With CPA's, Bankers, Advisers To Increase Contractor Profits

Contractor Bookkeeping

1 Commercial Banker - Someone to help you manage cash flow and put your cash to work earning interest with sweep accounts and other banking tools. to prepare their business and personal annual income tax returns and certify business financial statements as needed for bonding companies and lenders. We work closely with C.P.A.

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QuickBooks For Contractors Cost of Goods Sold Vs. Expense

Contractor Bookkeeping

Land Developers And Home Builders - Will need work-in-progress accounts from group #1 to keep track of all of the costs being accumulated and cost of goods sold accounts group #2 when it is time to record the sale of lots, land and finished homes and finally expense accounts from group #3 to keep track of expenses.

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Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

Follow This Step-By-Step Process: #1 Find A Commercial Banker You Can Work With. Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news they are on the banks payroll. 3 Your Income Tax Return Preparer.

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Choosing QuickBooks Version For Your Contracting Company

Contractor Bookkeeping

QuickBooks Pro - Is great for contractors acting as Sole Proprietor with annual sales under $100,000 who simply need a way to keep track of basic income and expenses. When you spend money record it in the check register as an expense and when you receive money record it as income.

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FAQ's About Outsourced Contractors Bookkeeping Services

Contractor Bookkeeping

It includes a brief overview of our outsourced contractors bookkeeping system that allows us to service a number of combinations of construction companies including: One Income Contractors: Handyman Services. Multiple Income Contractors: Handyman + General + Remodel. QuickBooks Works Best If You: Takes Job Deposits.

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