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 77

Contractors Accounting Software Software 77

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

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

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 . Net Profit Margin

Safety 94

Safety Debt Liability Equity 94

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

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

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. 1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards. #2 Do your best to avoid raising any red flags.

Finance 48

Finance Accounting Construction Banking 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 195

Viewpoint Software Software Accounting 195

Viewpoint Construction Technology

JULY 17, 2018

Attend sessions taught by some of construction’s best in business valuation, succession planning, leadership and more to help you run a solid, profitable business where business thrives and the very best construction professionals want to work. How the Finance Function is Changing in the Digital Age. 15-18 in Portland, Ore.

Conference 147

Conference Viewpoint Software Software 147

Contractor Bookkeeping

JUNE 21, 2012

Construction Companies - Need short term liquid working capital such as cash, lines of credit, 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.

Profitability 48

Profitability Contractors Banking Change Orders 48

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

Contractor Bookkeeping

OCTOBER 15, 2021

Adding additional services is an excellent way to increase your profitability, diversify your income and expand your market. If your construction business doesn't have a credit history, you may need to look at other options for financing your plans. But there are essential things to consider before adding to your income streams.

Cash Flow 97

Cash Flow Income Finance Plans 97

Autodesk Construction Cloud

JULY 13, 2023

.” This quote primarily relates to personal finance, but his advice also rings true in the construction industry. While bringing in large projects and generating revenue is essential, it’s equally important to manage profit effectively and ensure healthy margins. Have a look below. Protect your reputation.

Profitability 98

Profitability Risk Construction Autodesk 98

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

Contractor Bookkeeping

NOVEMBER 3, 2012

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".

Profitability 48

Profitability Bankruptcy Contractors Remodeling 48

Contractor Bookkeeping

SEPTEMBER 3, 2021

Your finances are negatively affected, and it's up to you to lead the recovery. 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.

Bankruptcy 78

Bankruptcy Finance Construction Profitability 78

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

Contractor Bookkeeping

AUGUST 2, 2019

Many contractors are having trouble adapting to the new economy. I have made more mistakes – than ten of the average contractors put together. Your cost-per-call, closing ratio, and other related information is all part of your operations, accounting, and bookkeeping reports. Mobilization Cost.

Profitability 49

Profitability Travel Mobility Deals 49

Contractor Bookkeeping

DECEMBER 20, 2013

Contractors Are Getting Paid Faster And Saving Time With Bill Paying Chores With Bill.Com. Online Invoicing and Bill Pay is the next great leap in productivity since the introduction of the cell phone!" - Randal DeHart, Premier Construction Accountant. Randal DeHart, Premier Construction Accountant.

Profitability 48

Profitability Accounting Construction Security 48

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. Most construction businesses focus on their profit margins — making sure that revenue exceeds costs for each job. Finance material purchases.

Cash Flow 52

Cash Flow Finance Construction Materials 52

Contractor Bookkeeping

OCTOBER 29, 2021

You can either keep on "Powering Through"- spend your life endlessly chasing details, missing appointments, suffer untold losses in cash flow and profits, or you can start developing a plan and work on your business. Successful contractors improve processes all year long.

Plans 93

Plans Cash Flow Construction Profitability 93

Contractor Bookkeeping

FEBRUARY 20, 2013

Two construction companies, Company A and Company B, can do similar work for the similar customers using similar labor, materials and subcontractors yet Company A will earn twice the bottom line profits over Company B. Is Destroying Your Profits, Your Future And Your Life! At 10% Profit You Need To Sell $2,739.30

Profitability 48

Profitability Construction Accounting Equipment 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. Banks are attracted to profitable business. STRATEGY |. MANAGEMENT |. SOFTWARE |.

Banking 120

Banking Construction Cash Flow Finance 120

Contractor Bookkeeping

OCTOBER 4, 2013

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Starting Or Re-Starting A Construction Company Is Easy.

Profitability 48

Profitability Construction Accounting Cash Flow 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

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

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

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

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

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

JULY 13, 2023

This quote primarily relates to personal finance, but his advice also rings true in the construction industry. While bringing in large projects and generating revenue is essential, it's equally important to manage profit effectively and ensure healthy margins. Have a look below. Protect your reputation.

Profitability 52

Profitability Risk Construction Autodesk 52

Contractor Bookkeeping

DECEMBER 24, 2012

A lot of contractors like yourself have asked for ideas on how to find more opportunities and increase your sales so I would like to share one of our resources; Footwork Express. Contractor Flyers Welcome! From time to time flyers sent to realtors have resulted in profitable work for contractors.

Seattle 66

Seattle Resource Contractors Office 66

Contractor Bookkeeping

JANUARY 27, 2014

Construction Accounting Services For Home Builders. Spec Home Builders Have Unique Construction Accounting Needs : Keeping Track Of Specialty Contractor Costs - Is one of the most valuable things your contractors bookkeeping services can do for you. The best way is to use Purchase Orders in QuickBooks.

Contractors 48

Contractors Accounting Banking Profitability 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

Job Order Contracting

FEBRUARY 20, 2023

This practice does not work for material, labor, equipment, nor does it account for local market productivity in any effective manner. Locally researched JOC Price Books are readily available to provide cost visibility, cost transparency, and therefore improve cost management. b) Statement of work. (1) d) Distribution.

Contract 227

Contract Office Negotiation Documentation 227

Construction Business Owner

SEPTEMBER 29, 2020

5 Ways Contractors Can Improve Profitability. Your accounting team has an opportunity to make a major contribution to your firm’s bottom line. By following project accounting best practices as they manage budgets and billing, they can help ensure the profitability of each project. Accounting & Finance.

Profitability 207

Profitability Virgin Islands Contractors Puerto Rico 207

Construction Business Owner

AUGUST 30, 2011

ACCOUNTING |. Accounting & Finance. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. Construction-specific systems allow contractors to instantly track and analyze job progress and performance.

Construction 168

Construction Software Software Accounting 168