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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. 02 ASC 842 Leases, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). The prior accounting standard (ASC 840) only required capital leases to be included on the balance sheet. Accounting & Finance.

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Construction Bad Debt What To Do About It

Contractor Bookkeeping

All construction contractors have experienced the financial pain of bad debt which is defined as a customer who refuses to pay no matter what you do. Owning and operating any business including accounting means sometimes you provide goods and services and not get paid. Knowing The Answers Helps. Answer #2 - The Two Percent Rule.

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Xero Accounting Online Setup Errors Fixed Fast And Easy!

Contractor Bookkeeping

Did You Have Trouble Setting Up Xero Accounting Online? You are not alone, it is an accounting program built to satisfy the needs of accountants with an attempt to make it easy for non-accountants. Xero Accounting Online Setup is not as complicated as QuickBooks setup projects. Set up your Chart of Accounts.

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Bookkeeper Vs. Accountant Vs. C.P.A. For Your Construction Company

Contractor Bookkeeping

Each Branch Of Accounting serves a different function similar to how it works in construction. Three Accounting Skillsets = Three Types Of People. Bookkeepers are the lowest paid and the least skilled accounting specialist. Accountants are the next highest paid accounting specialist. Most C.P.A. Most C.P.A.

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Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

QuickBooks Premier Accountant 2000 And Up. If your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly you are riding high and living well! The Chart of Accounts is the foundation and if your Chart of Accounts is not setup right you will not have anywhere to put the transactions.

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As Economy Heats Up Your Bookkeeper May Leave For Bigger Better Deal

Contractor Bookkeeping

If Has Just Happened to you please stop and click on Emergency Accounting or call Sharie 206-361-3950 or email her Sharie@FastEasyAccounting.com and get help now! When it happens you have a full blown emergency accounting situation! And Worst Part Is - She had no idea that Construction Accounting is the hardest bookkeeping of all!

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Contractors Use Google Earth Like A Giant Stanley Tape Measure

Contractor Bookkeeping

Which means if they invest $100 today we would like to see the money back in the company bank account in four years? How will it affect the debt to equity ratio? About The Author: Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. What about discount rates?