Contractor Bookkeeping

JUNE 18, 2012

Construction Change Order Phobia. After Reviewing The QuickBooks Reports - We discovered a painful case of the dreaded disease I call "Change-Order-Phobia". He Had A Choice - Stop work immediately and negotiate some change orders on this project or finish it and most likely go bankrupt. Progress Invoicing.

Change Orders 48

Change Orders Profitability Work in Progress Construction 48

Contractor Bookkeeping

MAY 2, 2013

Four Important Words That Turn High Profit Jobs Into Non-Profit Jobs! It''s A Small Change. In this case the "Hammer" is a change order. You do what you promise and they will pay you, no questions asked and they are the foundation for high profit repeat customers. No law says there has to be change orders.

Change Orders 48

Change Orders Contractors Cash Flow Profitability 48

Job Order Contracting

JANUARY 4, 2017

Job Order Contracts – A Review of Independent Audits . If you currently have a Job Order Contract, or are planning on implementing a Job Order Contract, I highly recommend you get a copy of Job Order Contracts – A Review of Independent Audits. Approximately $1.9

Contract 100

Contract Project Management Consulting Long Beach 100

Pro Builder

NOVEMBER 29, 2022

How to figure out proper staffing in your purchasing department to balance costs and value with profitability. An understaffed purchasing department won’t have time to properly vet price increases, competitively bid and accurately contract trades, minimize change-order costs , or ensure your next project starts on the right foot.

Change Orders 98

Change Orders Resource Profitability Plans 98

Construction Business Owner

APRIL 26, 2012

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. Just about every contractor has been there — a project starts out strong but, as it moves forward, delays and incidental added work and changes knock dollars and cents off of the bottom line. Know the Contract and Budget.

Change Orders 120

Change Orders Construction Profitability Software 120

Pro Builder

JULY 20, 2021

You can avoid legal trouble by managing client expectations with a simple yet comprehensive contract. And the best way to do that is with a contract. . A contract doesn’t have to be long and confusing to be effective, practically or legally. The shorter, easier, and more concise a contract is, the better it protects you.

Contractors 98

Contractors Contract Legal Change Orders 98

Construction Business Owner

OCTOBER 14, 2011

Some Advice on Change Orders » A Change (Order) for the Better? When clients ask me about change orders, I’m reminded of a well-circulated photo. The yacht is named “Change Order.” Discussion about change order difficulties tends to be one of two types.

Change Orders 120

Change Orders Construction Software Software 120

Contractor Bookkeeping

JUNE 19, 2013

We are happy to be able to offer free Invoice templates, free Change Order templates and free estimate templates to construction contractors and other business owners to help them grow their sales and profits and have better lives for their families. Change Orders are a huge source of new profit. Click here.

Profitability 48

Profitability Cash Flow Accounting Construction 48

Construction Business Owner

OCTOBER 14, 2011

« A Change (Order) for the Better? Judging Tipis » Some Advice on Change Orders. I was talking with John Chaney this week, and he mentioned that he was going to blog about how change orders affect construction management. Processes & Tools. Oh, and Don’t Forget Your Customers. August 2012.

Change Orders 120

Change Orders Construction Software Software 120

Contractor Bookkeeping

JUNE 21, 2012

The Most Popular Method - Designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders and then try to collect their money.

Profitability 48

Profitability Contractors Banking Change Orders 48

Viewpoint Construction Technology

APRIL 10, 2018

The industry’s slow adoption of construction software has traditionally hindered contracting companies’ productivity. The disconnect between these entities has created problems in the past, and focusing on these connections enhances collaboration and improves the profitability of construction projects. “

Management 155

Management Viewpoint Construction Software 155

Contractor Bookkeeping

NOVEMBER 3, 2012

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! The most common situation is when a residential remodel contractor who has built a reputation and a substantial company generating profits of 15% or more decides to start building custom homes.

Profitability 48

Profitability Bankruptcy Contractors Remodeling 48

Job Order Contracting

APRIL 1, 2019

Integrated Project Delivery, IPD, for major new construction, and Job Order Contracting, JOC, for repair, renovation, and minor new construction are two fully vetted forms of LEAN construction delivery. Thus costs estimates should first be prepared WITHOUT including OVERHEAD and PROFIT. Continuous improvement. Scope of Work.

Estimating 130

Estimating Construction Procurement Change Orders 130

Construction Business Owner

APRIL 1, 2011

Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs.

Cash Flow 120

Cash Flow Construction Software Software 120

Contractor Bookkeeping

OCTOBER 4, 2013

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Review contracts you will ask your customers to sign.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Contractor Bookkeeping

FEBRUARY 28, 2014

Your Construction Contracting Company. When you were young and had a support system providing your food, clothing and shelter that was the time to own and operate your contracting company fast and loose without any checklists, processes, systems or any of that perceived non-sense. Money Is The Main Reason You Own And Operate.

Profitability 48

Profitability Contractors Cash Flow Accounting 48

Job Order Contracting

APRIL 1, 2019

Integrate Project Delivery, IPD, for major new construction, and Job Order Contracting, JOC, for repair, renovation, and minor new construction are two fully vetted forms of LEAN construction delivery. Thus costs estimates should first be prepared WITHOUT including OVERHEAD and PROFIT. Scope of Work.

Estimating 100

Estimating Procurement Change Orders Renovating 100

Building Information Management

NOVEMBER 6, 2013

Job Order Contracting offers an alternative to traditional bidding processes. Based on industry-standard cost data and predefined processes that promote streamlining of project development, early contractor involvement, fewer change orders and higher quality construction, JOC is a refreshing change.”g.

Contract 40

Contract United States Estimating Bidding 40

Building Information Management

APRIL 10, 2015

Job Order Contracting is an integrated, collaborative construction project delivery method with a 20 year+ track record. A Job Order Contracting (JOC) system is based on a competitively bid indefinite delivery-indefinite quantity (IDIQ) contract between a facility owner and a construction contractor. What is JOC?

Contract 40

Contract Renovating Bidding Construction 40

Autodesk Construction Cloud

DECEMBER 18, 2021

The final days of a project have a huge impact on your overall profitability and success—as the saying goes, projects are remembered not by how they start but how they finish. In fact, you typically won’t be able to release final retainage without it—effectively putting as much as 10% of your contract at stake. Not so fast.

Change Orders 52

Change Orders Documentation Equipment Risk 52

Construction Business Owner

OCTOBER 20, 2011

« Some Advice on Change Orders. But without exception, the story that each team told through their symbols focused on people, not projects or profits. No discussion of business practices, financial measurements, or profit-building strategies. change orders. Free Subscriptions. Home » Blogs.

CFMA 120

CFMA Construction Software Software 120

Construction Business Owner

MAY 24, 2012

But the point at which the office meets the field – where job progress is tracked, profitability is calculated, invoices and change orders are processed – this is the point where bad (or no) communications between the field and the office results in diminished performance and profits. change orders.

Construction 120

Construction Software Software Iowa 120

Autodesk Construction Cloud

FEBRUARY 1, 2022

While a project’s ultimate goal is a successful completion, the steps it takes to get there are critical to profits and project’s life cycle. During this process, consider how much wiggle room is available for change orders, most likely an inevitable occurrence once a project is underway and can be costly if not well planned.

Risk 52

Risk Schedule Design Budgeting 52

Autodesk Construction Cloud

DECEMBER 3, 2021

In parallel with better planning, technology can also help to reduce the common problems or elements that contribute to cost overruns, ensuring you can maximize efficiency and profits. Not Planning for Change Orders.

Budgeting 52

Budgeting Budget Construction Software 52

Construction Business Owner

SEPTEMBER 27, 2011

If a business is unprofitable in 2011, and has no taxable income to use the deduction, that business can elect to use 100% Bonus Depreciation and carry-forward to a year when the business is profitable. change orders. There are plenty of good reasons to take a closer look at Section 179. August 2012. April 2012. March 2012.

Construction 180

Construction Software Software Accounting 180

Construction Business Owner

JANUARY 18, 2012

Querying different type of jobs in job costing to look at profitability by type. change orders. Looking at Over/Under Billing and posting the adjustment to the year-end financials. Preparing Sales & Use tax reports for sales tax authorities. August 2012. April 2012. March 2012. February 2012. January 2012. January 2009.

Construction 168

Construction Software Software Accounting 168

Job Order Contracting

APRIL 2, 2019

Integrated Project Delivery, IPD, for major new construction, and Job Order Contracting, JOC, for repair, renovation, and minor new construction are two (2) fully vetted forms of LEAN construction delivery. Thus costs estimates should be prepared WITHOUT OVERHEAD and PROFIT. Both have a proven track record spanning decades.

Estimating 100

Estimating Procurement Change Orders Comparison 100

Construction Business Owner

APRIL 5, 2012

And risk can be a profit center, since insurance companies obviously make money. Even if this doesn’t become an actual source of profit in and of itself, contractors who actively work to understand and control risk are in a position to make smarter project decisions that lead to higher profit margins. change orders.

Risk 120

Risk Insurance Construction Software 120

Best Practices Construction Law

NOVEMBER 26, 2012

Written Contract. As a preliminary matter, make sure that you get a written contract when starting a new project and make sure that both parties sign the agreement. Too many times I have represented parties who either "did the deal on a handshake" or "never signed the contract." Contract Provisions.

Cash Flow 48

Cash Flow Project Management Change Orders Agreement 48

Construction Business Owner

MAY 29, 2012

Recent Comments Diyona Joe on Top 5 Trends in Construction Software Construction services on Top 5 Trends in Construction Software Construction services on Lessons in Construction Leadership Yunz Contracting on Marketing Your Construction Business Yunz Contracting on Safety is More than a Mission Statement Archives. change orders.

Construction 120

Construction Software Software Cash Flow 120

Construction Business Owner

APRIL 2, 2011

« Free Webinar on Reducing Profit Fade. In our business we fight tooth and nail to stay competitive and win contracts. change orders. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->.

Construction 159

Construction Software Software Accounting 159

Construction Business Owner

DECEMBER 20, 2011

Recent Comments Diyona Joe on Top 5 Trends in Construction Software Construction services on Top 5 Trends in Construction Software Construction services on Lessons in Construction Leadership Yunz Contracting on Marketing Your Construction Business Yunz Contracting on Safety is More than a Mission Statement Archives. change orders.

Software 120

Software Software Construction Accounting 120

Building Information Management

MARCH 7, 2012

Design/Build, CM, CM@R and, of course,Job Order Contracting. Accordingly, the risk profile and allocation change significantly from other traditionaldelivery methods. A JOC contract is inherently. under the JOC program is a typical feature as the starting point for each project (task order) under the contract.

Contract 49

Contract BIM Missouri Contractors 49

Construction Business Owner

OCTOBER 26, 2011

I know from my days as a general contractor that plans and specifications are altered continuously as subcontractors become involved, materials are changed, and change orders are issued. change orders. Rarely does a finished project exactly mirror the original plans. August 2012. April 2012. March 2012. foundation.

Construction 159

Construction Software Software Bidding 159

Construction Business Owner

NOVEMBER 3, 2011

Rather than looking in the review mirror after a job is complete and realizing you’re over budget, make sure you have the ability to import estimates, manage change orders, report on committed costs, and allow your employees in the field remote access. change orders. August 2012. April 2012. March 2012. February 2012.

Cash Flow 120

Cash Flow Construction Software Software 120

Construction Marketing Ideas

FEBRUARY 16, 2015

This image goes with a posting: “Bid day is like” — probably describing better than any words the experience on the critical day in the contracting business. This means the material prices, labor hours, equipment requirements, indirect costs, and profit will be based on incorrect information.

Estimating 48

Estimating IDEA Bidding Profitability 48

Contractor Bookkeeping

JULY 28, 2014

Change Orders and Related Payments. Project Baseline, Changes and Payments To Report? Change Orders and Related Payments. Project Baseline, Changes and Payments To Report? When a construction project grows beyond two invoices, and you add job deposits and change orders the process gets real tricky.

Contractors 48

Contractors Change Orders Accounting Cash Flow 48