Contractor Bookkeeping

SEPTEMBER 20, 2013

QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales. Profit & Loss statement anytime YOU want it! Profit And Loss Report. Cash On Hand.

Contractors 48

Contractors Accounting Profitability Overhead 48

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. And we go over and over how the foundation of a successful construction company is good solid financial reports. What Gets Measured Gets Managed!

Accidents 48

Accidents Accounting Construction Profitability 48

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

AUGUST 16, 2013

Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. Expenses - Overhead required to maintain business operations. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item.

Work in Progress 60

Work in Progress Accounting Construction Leases 60

Contractor Bookkeeping

AUGUST 29, 2014

Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. Outflows for your Construction Company are generally the result of paying labor, material, other direct and indirect costs of goods sold and overhead expenses. Is Cash Flow The Same As Profit?

Cash Flow 48

Cash Flow Management Contract Accounting 48

Contractor Bookkeeping

AUGUST 27, 2014

Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. Which QuickBooks Reports Will Help You Increase Sales And Profits? Of course you are!

Contractors 89

Contractors Accounting Work in Progress Profitability 89

Contractor Bookkeeping

MAY 2, 2013

Four Important Words That Turn High Profit Jobs Into Non-Profit Jobs! You do what you promise and they will pay you, no questions asked and they are the foundation for high profit repeat customers. These are marginal customers you will want to replace with high profit repeat customers. That Should Be Included.

Change Orders 48

Change Orders Contractors Cash Flow Profitability 48

Contractor Bookkeeping

AUGUST 15, 2014

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.

Contract 48

Contract Accounting Income Contractors 48

Contractor Bookkeeping

AUGUST 6, 2014

1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards. #2 Using the information gathered the IRS was able to make a compelling case from the bottom up of his annual income. In particular, your construction company Profit & Loss and Balance Sheet. Five Red Flags To Avoid. #1

Finance 48

Finance Accounting Construction Banking 48

Contractor Bookkeeping

JUNE 11, 2013

1 External Tax Accounting purpose is to report income to the government by preparing tax forms and making certain you pay your fair share of taxes and if you have bad bookkeeping perhaps a little extra. Having QuickBooks Setup the right way for construction is the foundation for having a useful job costing reporting system.

Accounting 48

Accounting Bankruptcy Profitability Contractors 48

Contractor Bookkeeping

FEBRUARY 14, 2014

It has always been and will likely always be that: 95 out of 100 contractors will earn less than 3% net profit. 4 out of 100 contractors will earn between 3%-15% net profit. 1 out of 100 contractors will earn in excess of 15% net profit. profit went straight to the bottom line. per hour (See below). 33 hours X $35.53

FAQ 49

FAQ Contractors Accounting Security 49

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

Contractor Bookkeeping

MAY 31, 2013

Back In The “Old Days” a set of scales was used – one side for income and other for expenses. That was a simple way to determine Profit and Loss. High Overhead Costs (in-house server). Midsize Construction Companies who view construction accounting as an “Overhead Expense” or "Waste of Money" will try to get buy on the cheap.

Contractors 48

Contractors Accounting Change Orders Software 48

Contractor Bookkeeping

MAY 31, 2013

Back In The “Old Days” a set of scales was used – one side for income and other for expenses. That was a simple way to determine Profit and Loss. High Overhead Costs (in-house server). Midsize Construction Companies who view construction accounting as an “Overhead Expense” or "Waste of Money" will try to get buy on the cheap.

Contractors 48

Contractors Accounting Change Orders Software 48