Levelset

SEPTEMBER 30, 2022

As a commercial specialty contractor, it can be frustrating to have the crew, time, and skills you need to take on construction projects but not enough cash to purchase materials. With your back against the wall, dipping into your personal bank account may feel like an easy solution. Cut unnecessary spending.

Cash Flow 52

Cash Flow Banking Finance Bidding 52

Contractor Bookkeeping

JULY 31, 2020

Some applications make almost everything easy, including accounting software. Too many contractors find out too late the adage "You get what you pay for" still applies. Making a lot of money as a contractor is easy if you know what to do, and I don't mean your ability to produce more fieldwork than anyone else, although that does help.

Contractors 78

Contractors Accounting Software Software 78

Pro Builder

APRIL 19, 2021

5 Reasons to Use Mechanical Contractor Software. Construction software technology has not only helped general contractors but assisted trade contractors to provide their vital services and bring projects to completion. The same is true for mechanical contractors. 4) Budgeting & Finances. Mon, 04/19/2021 - 06:00.

Software 52

Software Software Contractors Change Orders 52

Contractor Bookkeeping

APRIL 14, 2023

As a small business owner, you're likely already aware of the importance of keeping your finances in order. It involves regularly checking your financial situation to ensure your accounts are in order, your records are up-to-date, and you're spending within your budget.

IRS 90

IRS Finance Income Budgeting 90

Viewpoint Construction Technology

APRIL 17, 2018

Contractors today deal with challenging projects, often with multiple performance obligations. The new GAAP revenue recognition standards developed by the Financial Accounting Standards Board are here, and these standards are designed with complex projects in mind. Here are some of the important steps: . Identify the Contract.

Accounting 179

Accounting Contract Viewpoint Cash Flow 179

Contractor Bookkeeping

JUNE 14, 2013

Project Management Construction Accounting Professionals (PMP) work above the line focused on generating positive outcomes and results for contractors: Increase Sales. Three cases where construction contractors need a CPA in their QuickBooks for contractors file: You apply for a large loan or line of credit over a million dollars.

Accounting 48

Accounting Construction Income Contractors 48

Contractor Bookkeeping

OCTOBER 23, 2020

Picking a Get-Me-By Contractor's Bookkeeping Solution in many cases is using an Excel Spreadsheet and a shoebox, file folders all dumped into a file box and looking at the Online Banking once in a while. This accounting method is the "I still got money, so I must be okay.".

Cash Flow 73

Cash Flow Contractors Banking Accounting 73

Levelset

MARCH 21, 2022

Restoration contractors can spend a lot of time waiting for payment. Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. Keep reading to learn five tips restoration contractors can use to effectively manage their cash flow while the homeowner waits for an insurance check.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Viewpoint Construction Technology

FEBRUARY 14, 2019

One of the biggest challenges that contractors’ finance and accounting departments face is keeping up with all of the ever-changing tax regulations, incentives and procedures. She discussed the new 21 percent flat tax rate on C-Corps and what that could mean in terms of tax savings for large contractors.

Viewpoint 156

Viewpoint Construction Contractors San Francisco 156

Levelset

MAY 23, 2022

How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” Getting paid in a timely manner is another challenge for specialty contractors since the average payment collection time for the construction industry is around 90 days. Establish consistent accounting procedures. Learn More.

Cash Flow 59

Cash Flow Lien Accounting Construction 59

Contractor Bookkeeping

AUGUST 6, 2014

They work hard to find people and businesses and contractors that are good credit risks they can loan money too and get paid back in a timely fashion, with all of the interest due to them. 2 The financials tell the banker your bookkeeper doesn''t understand Construction Accounting. #3 Do your best to avoid raising any red flags. . #1

Finance 48

Finance Accounting Construction Banking 48

Contractor Bookkeeping

MAY 24, 2019

Construction companies need short-term liquid working capital such as cash, lines of credits, loans, owner financing, credit cards, supplier accounts, and other forms of money to conduct daily operations. What often happens is that contractors hate paperwork preferring to keep everything in their head.

Contractors 52

Contractors Profitability Banking Change Orders 52

Viewpoint Construction Technology

NOVEMBER 6, 2018

The reasons most often cited for dated information are lack of access to this data at the right time, query driven reporting and a reliance on accounting/finance for information. These modern construction software solutions are helping contractors transform their operations in today’s digital age.

Project Management 162

Project Management Management Viewpoint Software 162

Contractor Bookkeeping

AUGUST 27, 2014

QuickBooks For Contractors Setup. We Fix Bad QuickBooks For Contractors Setup Issues. Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle.

Contractors 88

Contractors Accounting Work in Progress Profitability 88

Contractor Bookkeeping

SEPTEMBER 15, 2017

If you are a contractor, you know what to look for when you need to hire skilled construction workers. I have a deep background both in construction, having owned and operated successful construction companies and construction accounting. Here are these twelve Signs You Hired The Right Contractor Bookkeeping Service.

Contractors 52

Contractors Accounting Finance Construction 52

Viewpoint Construction Technology

FEBRUARY 12, 2019

Here’s a list of key reports that you should be able to pull at any moment from your construction project management software: Basic Accounting Reports. At a bare minimum, you’ll need the following for your accounting function: profit and loss report, balance sheets, trial balance and trading summaries.

Cash Flow 130

Cash Flow Software Software Accounting 130

Contractor Bookkeeping

SEPTEMBER 17, 2021

Contractors, by nature, are tenacious, resilient, and have a tremendous amount of "Grit And Determination To Succeed," which means they are not easily disturbed or prone to react hastily or rashly at the first sign of trouble. Incompetent bookkeepers can destroy your construction company and your finances.

Construction 91

Construction US Contractors Finance 91

Contractor Bookkeeping

NOVEMBER 25, 2013

Let and let us take care of your bookkeeping with Xero Accounting Online! You can see at a glance what is happening with your finances anytime online from your smartphone, desktop, iPhone or any web enabled device. We Make Getting Started With Xero Accounting Online Painless! Xero Accounting Online Conversion.

Accounting 49

Accounting Banking Project Management Washington 49

Levelset

MAY 2, 2022

Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their pockets. If you are a subcontractor, you can review your general contractor’s payment activity.

Negotiation 52

Negotiation Materials Cash Flow Finance 52

Construction Enquirer

JULY 10, 2023

Nottingham based contractor J Tomlinson is heading for administration. “We as a board have worked tirelessly to attract additional overall finance into the group to invest for the future. ” Latest accounts for J Tomlinson for the year to September 31 2021 showed a turnover of £106m generating a pre-tax loss of £657,000. .

Cash Flow 98

Cash Flow Accounting Office Finance 98

Contractor Bookkeeping

DECEMBER 3, 2013

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.

Accounting 48

Accounting Washington Leases Insurance 48

Levelset

JULY 25, 2022

Businesses whose assets (like cash, accounts receivable, inventory, or materials) exceed the value of their liabilities (like wages, debts, vendor payments, or overhead costs) have working capital to use to maintain or grow. Working capital measures the difference between a construction company’s current assets and current liabilities.

Debt 97

Debt Cash Flow Equity Finance 97

Contractor Bookkeeping

DECEMBER 3, 2021

Your clients need invoices for their tax purposes and to manage their finances. The Old Way Contractors Invoiced the jobs was sometimes just as much or more work than doing the job itself. Creating invoices and receipts is vital to successfully running a business. You need receipts to track your purchases and expenses.

Finance 90

Finance Environment Construction Contractors 90

Contractor Bookkeeping

JUNE 17, 2013

Contractors a ccounting and finance the most important back-office services and in most cases the least understood. However using the information from the accounts and attempting to control costs without understanding which parts of the company are driving revenues can lead to disaster.

Contractors 48

Contractors Accounting Finance Bankruptcy 48

Viewpoint Construction Technology

OCTOBER 16, 2018

Contractors across the globe are modernizing their own operations to keep pace with modern demands. The construction industry is in the midst of a significant digital shift, adopting new cloud-based technologies and operational innovations that are helping contractors realize previously untapped potential,” Kotzabasakis said.

Viewpoint 149

Viewpoint Software Software Accounting 149

Contractor Bookkeeping

JULY 9, 2019

Proactive contractors have systems and cost libraries with pre-priced assemblies for bidding, which works in conjunction with Strategic Construction Accounting to provide management with progress invoicing, job costing, and job profitability.

Bidding 51

Bidding Contractors Profitability Accounting 51

Construction Marketing

JANUARY 13, 2022

Unfortunately, some contractors assume they have enough coverage for their construction jobs. Crane and rigging insurance is a safety net that protects contractors who use heavy machines , such as cranes, bulldozers, and excavators, for lifting and installations. They insure the crane against severe damage or total loss.

Insurance 168

Insurance Liability Compensation Accidents 168

Levelset

APRIL 5, 2022

Contractors can take on more work than their cash flow will let them perform, leaving them scrambling for cash to pay their bills or their employees. Why contractors run out of cash. Otherwise, you could be overdrawn on your account. 5 strategies for contractors to help hold onto cash. Finance material purchases.

Cash Flow 52

Cash Flow Finance Construction Materials 52

Contractor Bookkeeping

JULY 7, 2014

If you do you are not alone, many contractors feel that way. Owning a construction company is so much different from just working for another construction contractor and in most cases, new contractors had no idea what was involved in the business end of the operation before they started. Reconcile The Bank Accounts.

Contractors 48

Contractors Accounting Banking Project Management 48

Construction Business Owner

FEBRUARY 16, 2012

ACCOUNTING |. Accounting & Finance. » Contractors Seeking Credit Should Prepare to be Prepared. Mountjoy, Chilton, Medley LLP is a CPA firm with a team of accountants dedicated to construction accounting. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management.

Banking 120

Banking Construction Cash Flow Finance 120

Contractor Bookkeeping

AUGUST 11, 2014

Recently A General Contractor Who Needed Help Getting Useful Reports Contacted Us. When the contractor asked his in-house bookkeeper to review the QuickBooks company file she did and was emphatic everything was perfect. This One Bookkeeper Error Caused the contractor to OVERPAY HIS ANNUAL INCOME TAX.

Profitability 48

Profitability Contractors Accounting Income 48

cnstrctr

JANUARY 4, 2020

It is a legally binding document that the groups agree to at the start of a project and are held accountable to throughout. As not every project is the same, there are various types of contracts between the owner and contractor which depending upon which is chosen can change your responsibilities drastically. Lump Sum Contracts.

Contract 88

Contract Construction Finance Documentation 88

Contractor Bookkeeping

JULY 28, 2014

Payment Applications For Residential Remodel & Commercial Tenant Improvement Contractors. This is a FREE form we developed for our handymen and trade contractors to use on the jobsite and at their office because invoicing in QuickBooks can be difficult. I have personal and business credit cards to finance the work.

Contractors 48

Contractors Change Orders Accounting Cash Flow 48

Autodesk Construction Cloud

FEBRUARY 25, 2022

Evaluating a subcontractor’s health before awarding work has become more important than ever for general contractors. Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Accounts Receivable Turnover . Formula: Revenue / Accounts Receivable . Current Ratio .

Safety 94

Safety Debt Liability Equity 94

Construction Business Owner

SEPTEMBER 27, 2011

ACCOUNTING |. Accounting & Finance. « Considering New Accounting Software? A lot of contractors have asked me about Section 179. Most of these contractors are considering an investment in equipment or software, and they want to know if it can actually help their construction business. Tags accounting.

Construction 180

Construction Software Software Accounting 180

Contractor Bookkeeping

JULY 4, 2012

The Strategy of Preeminence - At Fast Easy Accounting simply means our clients are under the care and protection of professionals who are looking out for their best long-term business interests similar to how your physician and/or spiritual advisor supports you in your personal life. The Strategy of Preeminence.

Contractors 48

Contractors Accounting US Finance 48

BD+C

JUNE 22, 2023

Contractors Pepper Construction Group is pleased to announced the promotion of Chris Averill to the position of President. With more than 43 years of experience, Averill is an accomplished leader with an extensive background in global finance and business management and a proven track record of leadership and operational excellence at Pepper.

Construction 52

Construction Finance Indiana Office 52