Remove Accounting Remove Cash Flow Remove Compensation Remove Insurance
article thumbnail

Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

A higher ratio indicates a stronger cash position. . Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . A high value indicates a strong cash position and ability to withstand cash flow constraints. . Accounts Receivable Turnover .

Safety 94
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. INSURANCE |. Accounting & Finance. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. Thank you for writing the following account. Tags accounting.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. INSURANCE |. Accounting & Finance. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. I was doing some research on construction accounting softwares and came across your entry.

article thumbnail

When Being A Licensed Contractor Is Just Not Enough!

Contractor Bookkeeping

When you hire 1099 contractors you need to know that their state contractor’s license, bond and insurance are active. During audits states agencies are now looking to check about the bond and insurance. Did you send your liability insurance payment in late? Is your #1 Favorite Customer adding / taking profits or cash flow?

article thumbnail

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. You say O.K.

article thumbnail

We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Did You Use Your Personal Credit Cards - And supplier accounts to finance your new business and perhaps you were not careful about what you bought? Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. You say O.K.

article thumbnail

Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.