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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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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? For Our Financial Analyst , financial manager and economist and statistician friends reading this I know what you are thinking: What about the Present Value? How will it affect the debt to equity ratio?

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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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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

Owner’s equity is in theory what would be left over if you liquidated the company, sold the assets and paid all of the debts or liabilities. Construction Accounting As It Relates To Service Agreements. Successful contractors put the cash in another interest bearing bank account and do not transfer any of it until the work is performed.