Remove Accounting Remove Bankruptcy Remove Contractors Remove Profitability
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How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! A lot of problems can be traced back to the "Halo Effect" which happens when a contractor thinks "We are so good at (fill in the blank) we should expand into (fill in the blank). Every problem has one answer "Brute Force".

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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. Yet most contractors believe the complete opposite about construction; cheaper is not better.

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Construction Company Recovery After A Financial Setback

Contractor Bookkeeping

Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected, and it's up to you to lead the recovery.

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

Contractor Bookkeeping

Tax Season Is Here and this is when most construction contractors think about getting their construction bookkeeping system in order so they can file their annual tax return for the previous year. Each Branch Of Accounting serves a different function similar to how it works in construction. Certified Public Accountants (C.P.A.)

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Latest Trend, Bookkeeper Works For Contractor That Goes Bankrupt

Contractor Bookkeeping

There Is A Disturbing Pattern Among Contractors And You Need To Be Aware Of It! No construction company goes bankrupt that had useful accurate Financial Statements and Job Costing Reports that they understood and paid attention to because they would have seen bankruptcy coming well enough ahead of time to avoid it.

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Estimating- The New Normal

Chianelli Estimating

Unfortunately the contractor with work in progress is most vulnerable. Contractors working with a fixed cost contract is the norm and are married to the terms by which it has been agreed upon from the project outset; before Copvid-19 restrictions. Too many contractors vying for the same job . cost overruns. Less opportunities.

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Serious And Funny Construction Definitions Contractors Enjoy Reading

Contractor Bookkeeping

Please feel free to share them with your friends, relatives and most importantly contractors as they will appreciate the humor and perhaps find value in the words of wisdom we are sharing. 80/20 Rule – 80% of a contractor’s wealth and wellbeing comes from 20% of their activities.