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Job Costing Accounting Vs. Regular Accounting

Contractor Bookkeeping

There is some confusion about the differences between job costing accounting and regular accounting which leads some contractors to believe they can get what they need from any bookkeeper and the cheaper the better. Two Basic Types Of Accounting. #1 Tax Accountants are good people and have a place in the accounting world.

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Construction Bookkeeping Unique Features

Contractor Bookkeeping

All Accounting Uses The Accounting Equation. Bank Balance - Un-cleared Checks) = Cash. Regular Bookkeeping - Is roughly 80% of all accounting for businesses in the world. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. Bank Account - Payroll.

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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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We Work With CPA's, Bankers, Advisers To Increase Contractor Profits

Contractor Bookkeeping

Construction Accounting - Is our special expertise which means all of my writing is addressed to members of the construction industry and how we can help them with QuickBooks Setup, QuickBooks Clean-Up and Cloud Based Online Bookkeeping Services. . #1 We really appreciate working with C.P.A.'s and if you have one now keep them.

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QuickBooks For Contractors Cost of Goods Sold Vs. Expense

Contractor Bookkeeping

During QuickBooks setup and especially QuickBooks for contractors one of the most dangerous and difficult steps is setting the Chart of Accounts. Sample Chart of Accounts Groups. All Other Contractors - Will normally only need accounts from group #2 and #3. Are there any back charge issues to be tracked?

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Choosing QuickBooks Version For Your Contracting Company

Contractor Bookkeeping

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. In the hands of an accountant or C.P.A.

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Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

Follow This Step-By-Step Process: #1 Find A Commercial Banker You Can Work With. Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news they are on the banks payroll.