Constructonomics

AUGUST 23, 2016

Management becomes more formal and accounting needs to be stronger; money comes more from profits, banks and franchising options than from family. The business is more mature, with steady profits, loyal customers and an established way of working. Money tends to come from profits, banks and government grants.

Profitability 100

Profitability Banking Cash Flow Overhead 100

PSMJ Resources

JULY 10, 2013

Most clients are demanding more work for lower fees, and firms that do not reexamine the terms of their contracts usually find themselves without enough income to break even, let alone make a profit. With government clients, this term can reduce overhead, making your contract price more attractive. Shorten the billing/payment cycle.

Profitability 43

Profitability Contract Negotiation Debt 43

Contractor Bookkeeping

MAY 31, 2019

Everything starts with cash because "cash is fact, profit is an opinion." We take care of your books for you, so you can get back to the job of running your business and generating profits. Proper construction accounting is all about the details. The answers you need to operate and grow your company are in reports.

Accounting 59

Accounting Profitability Overhead Banking 59

Levelset

AUGUST 17, 2022

These data points provide insight into the profitability of a company and give owners an early indication of potential issues. Architectural business consultant Lucas Gray of Charette Venture Group recommends three KPIs to help firms measure their profitability: break-even point, utilization rate, and billable ratio. . Lucas Gray.

Profitability 52

Profitability Lien Overhead Cash Flow 52

Contractor Bookkeeping

DECEMBER 20, 2013

With the optional bill tracking and bill payment services they are increasing bottom line profits by avoiding late fees and taking advantage of vendor discounts which in some cases can generate 36% Return on Investment! an hour after all of the taxes and overhead. For example a part-time bookkeeper paid $15.00

Profitability 48

Profitability Accounting Construction Security 48

PSMJ Resources

JULY 11, 2013

PSMJ’s exclusive Circle of Excellence is designed to highlight firms that are successfully managed, based on 13 key performance metrics that demonstrate outstanding achievements in profitability, overhead, cash flow, productivity, business development, staff growth, and turnover.

Resource 58

Resource Cash Flow Las Vegas Consulting 58

Contractor Bookkeeping

OCTOBER 18, 2013

If your bookkeeper is an employee and they have no equity interest in your company they do not have the same concern about your construction company''s cash flow and bottom line profit that you do because when it fails they can blame you for "Not knowing how to run a business" and go wreak havoc elsewhere.

Contractors 48

Contractors Bankruptcy Cash Flow Accounting 48

Levelset

JUNE 21, 2022

So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow. An HVAC company that’s not managing cash flow is probably doing about as well as an AC unit that isn’t cooling.

Cash Flow 98

Cash Flow Accounting Profitability Residential 98

Levelset

JULY 22, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. New businesses can leverage technology, automation, and lower overhead costs to compete with existing businesses. Keep the cash flowing like water down a valley. Review your cash flow regularly.

Cash Flow 52

Cash Flow Overhead Accounting Profitability 52

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. 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. Well, not exactly. Slow Work in Progress Figures Just Don’t Work.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

Levelset

JULY 18, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing through your financial pipes. Here’s a little-known fact about growing a plumbing business: It can be incredibly cash-hungry. Review your cash flow regularly.

Cash Flow 52

Cash Flow Accounting Profitability Legal 52

ProcurementExpress.com

FEBRUARY 11, 2019

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. What are the overhead costs? Profit margins in the construction industry are notoriously tight. As mentioned, construction teams risk losing out on profits when quality control isn’t given priority. Tight Margins.

Procurement 63

Procurement Plans Construction Budgeting 63

PSMJ Resources

JULY 15, 2014

PSMJ''s Circle of Excellence is designed to highlight firms that are successfully managed, based on 13 key performance metrics that demonstrate outstanding achievements in profitability, staff growth, cash flow, productivity, business development, overhead management and turnover.

Resource 40

Resource Cash Flow Consulting Engineering 40

Contractor Bookkeeping

MAY 2, 2013

Four Important Words That Turn High Profit Jobs Into Non-Profit Jobs! Part of the root cause can be traced to a mild case of "Stockholm Syndrome" where contractors feel their cash flow may be held captive by their customers or clients. That Should Be Included. Since It''s Open Anyway. You Get It Wholesale. I Need A Favor.

Change Orders 48

Change Orders Contractors Cash Flow Profitability 48

Contractor Bookkeeping

JUNE 15, 2012

McDonalds Restaurants Earns - Massive profits and part of the reason is cash flow. Having Owned And Operated - Several construction businesses I know how important cash flow is to the success or failure of any business and especially construction companies like yours! This Is Only The Tip - Of the Iceberg.

Contractors 54

Contractors Cash Flow Banking Finance 54

PSMJ Resources

MAY 26, 2011

These benchmarks are indicative of performance in the various aspects of business operations, including cash flow, overhead control, business development, project performance, staff utilization, and overall profitability. To learn more about PSMJ’s A/E Financial Performance Benchmark Survey, click here.

Resource 40

Resource Cash Flow Overhead Consulting 40

ProcurementExpress.com

FEBRUARY 11, 2019

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. What are the overhead costs? Profit margins in the construction industry are notoriously tight. As mentioned, construction teams risk losing out on profits when quality control isn’t given priority. Tight Margins.

Procurement 52

Procurement Plans Construction Budgeting 52

Levelset

JULY 19, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing as smoothly as your paint. Here’s a little-known fact about growing a painting business: It can be incredibly cash-hungry. Review your cash flow regularly.

Cash Flow 52

Cash Flow Accounting Profitability Residential 52

Levelset

JULY 15, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing like current on a hot line. Here’s a little-known fact about growing an electrical business: It can be incredibly cash-hungry. You need to be a master of your cash flow.

Electrical 52

Electrical Cash Flow Accounting Profitability 52

Construction Business Owner

OCTOBER 14, 2011

But to count on them as the source of profit is to bank on an unpredictable variable that is not under your control, that is hard to manage, and that you may wish to use for a completely different purpose – business development (more on this in a moment). Yes, change orders are nearly inevitable. How do you handle your change order requests?

Change Orders 120

Change Orders Construction Software Software 120

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. 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. Well, not exactly. Slow Work in Progress Figures Just Don’t Work.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Levelset

JUNE 21, 2022

So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow. An HVAC company that’s not managing cash flow is probably doing about as well as an AC unit that isn’t cooling.

Cash Flow 52

Cash Flow Contractors Accounting Profitability 52

Contractor Bookkeeping

NOVEMBER 18, 2013

There are an infinite number of reasons why most construction companies do not generate a minimum 20% net profit and a six figure after tax income for the owners. When good stuff goes into your QuickBooks or Xero Accounting Online good reports come out that you can rely upon to make intelligent decisions which can lead to nice profit margins.

Accidents 48

Accidents Accounting Construction Profitability 48

PSMJ Resources

MAY 25, 2010

These benchmarks are indicative of performance in the various aspects of business operations, including cash flow, overhead control, business development, project performance, staff utilization, and overall profitability. About PSMJ Resources, Inc. For more than 35 years, PSMJ Resources, Inc.

Resource 40

Resource San Diego Cash Flow Overhead 40

Contractor Bookkeeping

AUGUST 13, 2014

I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. Knowledge Leads To Profits And Cash Flow. One Tiny Bit Of Knowledge High Profit Contractors. an hour that means with all of the employment taxes and overhead he costs you roughly $35.64

Contractors 48

Contractors Accounting Profitability CA 48

Contractor Bookkeeping

MARCH 9, 2013

Separate direct and indirect job costs from overhead. Change orders were done but not invoiced and paid which hurts cash flow and profits. Tax returns filed late or not at which adds penalties and fines which hurts cash flow. Checks start bouncing which adds more fees and hurts cash flow.

Contractors 48

Contractors Cash Flow Banking Change Orders 48

Rory Woolsey

FEBRUARY 28, 2012

Knowing where the key project metrics such as time , costs, resources , and cash flow are relative to a datum (the project plan). A poor plan for time, costs, resources and cash flow is sometimes worse than no plan. Time schedules, resource schedules and cash flow plans all come from a well thought out cost estimate.

Estimating 40

Estimating Cash Flow Budgeting Budget 40

PSMJ Resources

MAY 28, 2009

These benchmarks are indicative of performance in the various aspects of business operations, including cash flow, overhead control, business development, project performance, staff utilization, and overall profitability. About PSMJ Resources, Inc. For over 30 years, PSMJ Resources, Inc.

Resource 40

Resource Cash Flow Overhead Consulting 40

Construction Cost Estimating

JUNE 22, 2010

We will help to complete every project on time and ensure you meet those project deadlines, pass your inspection.

Schedule 40

Schedule Cash Flow Construction Liability 40

Contractor Bookkeeping

APRIL 1, 2014

We show you how to remove unique cash flow bottlenecks which are common in contractors bookkeeping, that results in more money in the bank, reduced overhead and lowers their stress level. We serve owners of small contracting companies with annual sales between $0-$5 million. The typical contractor is like a cowboy.

Accounting 49

Accounting Contractors Project Management Cash Flow 49

Autodesk Construction Cloud

SEPTEMBER 1, 2022

Knowing which contract to use when is critical to ensuring a successful outcome in delivery, customer satisfaction, and profit. Knowing which general construction contract to use and when to use one is vital to a successful project, your customers’ satisfaction, and your profits. Plus, you know you’ll incur a profit.

Contract 98

Contract Maine Construction Agreement 98

Pro Builder

JANUARY 11, 2021

It’s a good way to generate cash flow and to target the 40% of the country they weren’t able to reach otherwise,” he says. My focus when I started ResiBuilt was to be a very efficient, high-quality builder,” says Byce, albeit without the overhead burden of a salesforce.

Phoenix 105

Phoenix Leases Housing Las Vegas 105

PSMJ Resources

OCTOBER 6, 2011

These benchmarks are indicative of performance in the various aspects of business operations, including cash flow, overhead control, business development, project performance, staff utilization, and overall profitability.

Resource 46

Resource Consulting Engineering Architecture 46

Contractor Bookkeeping

MARCH 25, 2014

This includes such information as whether you have overbilled or underbilled the project – change order issues, revisions to cost estimates, estimated final gross profits and anticipated completion dates. Surety companies have different standards for the preparation of financial statements.

Cash Flow 52

Cash Flow Accounting Profitability Work in Progress 52

Contractor Bookkeeping

AUGUST 9, 2012

Yes, I know that sounds a bit harsh please understand it comes from over thirty years of experience in the construction industry both as a contractor, a construction accountant and a profit and growth coach for a few select construction company owners. I have been there, done that, got the T-Shirt, the tattoo and sang a song about it.

Organization 48

Organization Contractors Accounting Profitability 48

Autodesk Construction Cloud

AUGUST 12, 2021

In this practice, each project functions as its own entity with profits and losses. . To make things even more complex, items that you might consider overhead expenses are often actually costs of goods sold because they are connected to a client project. In other words, don’t forget about overhead when job costing.

Accounting 52

Accounting Software Software FASB 52

Autodesk Construction Cloud

JANUARY 31, 2022

It has now been well documented across the media and there are test-cases that can prove increasing investment in construction technology will lead to increased company efficiencies, reduced overhead costs and help companies build a scalable and sustainable future. ” – Ann Blanchard , Senior Client Project Manager, Arcadis.

Construction 97

Construction Autodesk BIM Modeling 97