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The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

It is time for contractors to get serious about the new accounting lease standard. It is time for contractors to get serious about the FASB ASU 2016?02 The next steps will involve discussing the impact to your company’s financial statement with your bankers, sureties, and other lenders. Greg Ragsdale. Wed, 06/01/2022 - 12:48.

Leases 177
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Common Construction Contractor Bookkeeping Issues With Accounts Payable

Contractor Bookkeeping

A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills. The bank wants to get paid, and unlike the contractor who is embarrassed to call an old customer, the bank is very willing to call early and often for any outstanding payments due.

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You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills

Wolgast Corporation

If you haven’t built a building in the last couple of years, you may be surprised when your banker tells you that they want to hire a Title Company to handle all of your payments to not only the General Contractor, but also directly to the General Contractor’s second tier Sub-Contractors. Why should you care?

Lien 98
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David v. Goliath – The Difficult Task of Fighting Your Insurance Company

Construction Law Monitor

Most laymen, including contractors and homeowners, believe that if they purchase a policy or file suit against another party’s insurance policy that there will be a windfall payout all the way up to the policy limits. Bankers Insurance matter coming out of the 24th JDC for Jefferson Parish. This is simply not the case.

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Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

They work hard to find people and businesses and contractors that are good credit risks they can loan money too and get paid back in a timely fashion, with all of the interest due to them. 2 The financials tell the banker your bookkeeper doesn''t understand Construction Accounting. #3 Do your best to avoid raising any red flags.

Finance 48
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Why Your Construction Company Needs Bookkeeping

Contractor Bookkeeping

When you own a small contracting company, like a residential remodeler, plumber, electrician, concrete contractor, flooring contractor or any other construction related company it is imperative that you have a good clean set of books that are consistent and updated regularly. See more at: [link].

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Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

Starting Or Re-Starting A Construction Company Is Easy. If You Know Exactly What To Do. Just Over Broke) into a real company with employees who actually generated more money than they cost. I am one of the few that has done it all and hopefully this article will be of use to you! Are you open to a Paradigm Shift ? Do you want to make a lot of money?