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How The Cloud Is Enabling Smarter Project Management—Part 4 of 5

Viewpoint Construction Technology

While having the best people in place, working together well and using the latest tools is critical, the construction project can still suffer if the data being tracked and reviewed is days or even weeks old. That outdated project information can make it hard to accurately gauge current job costs or work in progress.

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Construction Business Owner Blogs

Construction Business Owner

Meet with them before every project to discuss not only the contractual provisions for scope of work and change orders, but also what you bid and why. Owners need your help to meet their goals, and they may be more amenable to approving change orders while you’re still on the job. change orders.

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You Have HUD-1 Statements And Your Bank Wants Financial Statements

Contractor Bookkeeping

You are a spec home builder in need of a construction draw and your bank or lender wants to see your latest financial reports and this time they want all of the current houses you are working on to be reflected in QuickBooks correctly as Work-In-Process (W.I.P.) We have a FREE change order form you can download here.

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Construction Company Failure Root Causes

Contractor Bookkeeping

. #2 Change State - Arriving at a new understanding about something. In ancient Greece, Socrates argued that education was about drawing out what was already within the student. "I Working for customers instead of clients and not charging enough (The 80-20 Rule). Working on stuff you are not skilled in by trying to save money.

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QuickBooks Vs. Xero Accounting Online For Construction

Contractor Bookkeeping

QuickBooks or Xero Accounting Online for construction depends on how you get paid, the type of work your company does and if you need Job Costing. QuickBooks Works Best If You: Takes Job Deposits. Have Change Orders. Need Work-In-Progress. Need Periodic Invoices For Bank draws.

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Is Your Accountant Helping Or Hurting Your Construction Company?

Contractor Bookkeeping

Change Order. Periodic Draw. Work-In-Progress. It is natural to be suspicious of things we do not understand and especially when someone is speaking in a language that sounds like English however it doesn''t make sense. When my parents used words like: Job Deposit. Payment Application. Underground. Charge Backs.

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QuickBooks For Contractors Cost of Goods Sold Vs. Expense

Contractor Bookkeeping

Are you doing large projects requiring a schedule of values related to percentage of completion and change order management with progress invoicing and payment applications? Are you getting job deposits? Is there retention being withheld and are you withholding retention? Are there any back charge issues to be tracked?