Contractor Magazine

MARCH 18, 2014

This evolved from a question that was posed by contractors on a message board regarding the difference between profits and cash. It’s the financial statement that summarizes the company’s assets, liabilities and equity at any moment in time. Now, let’s go back and take a detailed look at the balance sheet as previously promised.

Cash Flow 51

Cash Flow Accounting Contractors Equity 51

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 89

Contractors Accounting Work in Progress Profitability 89

Contractor Bookkeeping

JUNE 12, 2013

Contractors That Do Not Earn Large Profits see contractors bookkeeping services as overhead which leads to the following profit drains: They get a cheap computer, tiny monitor, garbage printer, tiny desk and broken down chair that even the dog would not sit in and tell the bookkeeper this is all the company can afford.

Profitability 48

Profitability Contractors Accounting Estimating 48

Contractor Bookkeeping

JANUARY 4, 2013

The Contractors Accountant, Randal DeHart. I have been where you are now Having worked in the trades, owned and operated construction businesses and being trained in construction bookkeeping and accounting I understand what it takes to run a successful construction business. We know what to do!

Accounting 48

Accounting Contractors Project Management Remodeling 48

Contractor Bookkeeping

JULY 30, 2014

Builder Accounting begins with a proper QuickBooks setup For Spec Home Builders. and QuickBooks Setup for Custom Home Builders Seasoned Builders understand that their needs are different and more specific than the general and specialty contractors that they hire to complete the project. Seasoned Builders Knows Exactly What They Need.

Accounting 49

Accounting Housing Construction Contractors 49

Contractor Bookkeeping

FEBRUARY 5, 2014

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.)

Accounting 48

Accounting Construction Profitability Contractors 48

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. We simply do your bookkeeping.

Profitability 48

Profitability Contractors Banking Change Orders 48

Contractor Bookkeeping

SEPTEMBER 5, 2012

Emerging Contractors Welcome Here. This includes brand new contractors, seasoned contractors that have been in business since dirt was two days old and everyone in between. As Time Went By - You made a decent living for yourself, hired a few employees, paid your suppliers and you earned a profit.

Accounting 48

Accounting Contractors Overhead Insurance 48

Chianelli Estimating

AUGUST 6, 2020

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 . Accounting expanse.

Estimating 60

Estimating Residential Insurance Commercial 60

Contractor Bookkeeping

JUNE 18, 2012

All Bookkeeping Methods Share The Same Accounting Equations. Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. Assets - Liabilities) = Equity. Regular Bookkeeping - Is roughly 80% of all accounting and bookkeeping for businesses in the world.

Contractors 58

Contractors Profitability Overhead Equity 58

Lets Build

DECEMBER 2, 2022

It requires written standards that can be referred to at any time by employees, sub-contractors, and clients alike. That gives your firm the fiscal strength and confidence to pitch positively for future work, without overruns or remediation eating into profit margins at this time of unexpectedly high inflation. Creating a plan.

Management 156

Management Construction Risk Cash Flow 156

Contractor Bookkeeping

JULY 17, 2013

QuickBooks contractor Financial Reports such as Profit and Loss, Balance Sheet, Cash, Receivables, Payables, Job Costing Reports and Job Profitability Reports are a mystery to most contractors. Contractors Know there is something more too the financial statements than meets the eye.

Contractors 48

Contractors Accounting Profitability Visualization 48

Contractor Bookkeeping

SEPTEMBER 20, 2013

We Can Move Your QuickBooks Online To A QuickBooks For Contractors Desktop Version You Can Access Online! We can move everything from inside QuickBooks Online into QuickBooks For Contractors Desktop version and provide you with easy online access. Updating Chart of Accounts. Key Performance Reports Every Contractor Needs.

Contractors 48

Contractors Accounting Profitability Overhead 48

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

JANUARY 6, 2014

The Old Way Contractors Invoiced the jobs were sometimes just as much or more work than doing of the job itself. Construction Contractors Have Two Choices depending on what you are most comfortable with, QuickBooks Desktop Version In The Cloud or Xero Accounting Online. Xero Accounting Online. Need Payment Applications.

Accounting 50

Accounting Contractors Work in Progress Banking 50

Contractor Bookkeeping

JUNE 17, 2013

We Cannot Help Contractors Who Want Results Without Change. If A Contractors Bookkeeping Services System Doesn''t Work. They Need A Magician Not A Construction Accountant! It hurts when we have to let a contractor client go elsewhere because we are not able to help them.

Contractors 48

Contractors Accounting Banking Liability 48

Construction Business Owner

JANUARY 30, 2011

ACCOUNTING |. Accounting & Finance. » Relationship between the designer and the contractor. One part of our industry that I simply cannot get my head around is the oftentimes adversarial relationship that exists between the building design professionals and the building contractors on a particular job. STRATEGY |.

Contractors 120

Contractors Design Software Software 120

Levelset

AUGUST 26, 2022

At the core, you have property coverage for your tools and equipment, along with a liability component that protects your financial assets in case there’s a work-related accident or injury that you may have some responsibility for. . It’s prudent to look back and realize that potential liability doesn’t end when the project is completed.

Insurance 52

Insurance Liability Equipment Agreement 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

Construction Business Owner

JUNE 29, 2012

ACCOUNTING |. Accounting & Finance. Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. The contractor doing the work was working for the city at the time. The city was the “general contractor” and owner of this project. STRATEGY |. MANAGEMENT |. SOFTWARE |.

Construction 120

Construction Safety Software Software 120

Job Order Contracting

MARCH 1, 2017

JOB ORDER CONTRACTING Cooperatives play an important role for real property owners, facilities manager, and contractors. Here are some tips for contractors considering working with JOB ORDER CONTRACTING Cooperatives or considering changes in within specific programs. Job order contracting cooperatives – Contractor Info.

Contract 100

Contract Legal United States Documentation 100

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 226

Contract Office Negotiation Documentation 226

Contractor Bookkeeping

OCTOBER 17, 2014

This has been a popular and from all indications a very profitable swindle because it appears to be getting worse. From our experience as construction accountants, any contractor who cheats on their taxes ends up cheating themselves in the end. Contractors Are Prime Targets For IRS Scams.

IRS 48

IRS Claims Contractors Accounting 48

Contractor Bookkeeping

AUGUST 16, 2013

All Accounting Uses The Accounting Equation. Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. Assets - Liabilities) = Equity. -. Regular Bookkeeping - Is roughly 80% of all accounting for businesses in the world. Cash On Hand.

Work in Progress 60

Work in Progress Accounting Construction Leases 60

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

Contractor Bookkeeping

JUNE 14, 2013

Are You Suffering Bad Contractor Bookkeeping Services Pain? Do You Suspect Your Contractor Bookkeeper - Is overwhelmed trying to figure out how to do construction accounting and they are costing you more than they are worth in salary, fees and loss profits because you cannot get QuickBooks reports and financial reports when you need them?

Contractors 49

Contractors Accounting Organization Remodeling 49

Contractor Bookkeeping

DECEMBER 7, 2012

Contractor Bookkeeping Services For Contractors. Do You Suspect Your Contractor Bookkeeper - Is overwhelmed trying to figure out how to do construction accounting and they are costing you more than they are worth in salary, fees and loss profits because you cannot get QuickBooks reports and financial reports when you need them?

Contractors 48

Contractors Accounting Organization Remodeling 48

Construction Business Owner

JANUARY 18, 2012

ACCOUNTING |. Accounting & Finance. Mid-January is a time of reflection for many contractors. Querying different type of jobs in job costing to look at profitability by type. Public Exposure and Liability on Construction Sites. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |.

Construction 168

Construction Software Software Accounting 168

Construction Business Owner

APRIL 1, 2011

ACCOUNTING |. Accounting & Finance. Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. Tags accounting. accounting software.

Cash Flow 120

Cash Flow Construction Software Software 120

Construction Business Owner

APRIL 5, 2012

ACCOUNTING |. Accounting & Finance. And risk can be a profit center, since insurance companies obviously make money. Contractors work in the middle of a chain of risk passed onto them. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law.

Risk 120

Risk Insurance Construction Software 120

Contractor Bookkeeping

OCTOBER 20, 2012

Contractor Bookkeeping Services. Do You Suspect Your Contractor Bookkeeper - Is overwhelmed trying to figure out how to do construction accounting and they are costing you more than they are worth in salary, fees and loss profits because you cannot get QuickBooks reports and financial reports when you need them?

Contractors 56

Contractors Accounting Organization Remodeling 56

Construction Business Owner

AUGUST 19, 2011

ACCOUNTING |. Accounting & Finance. Why Construction-Specific Accounting Software Costs More than Generic Accounting Software » Look for the September How To Issue. One of my favorite parts of this job is getting to talk with professionals in the industry who work with contractors for a living. STRATEGY |.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

APRIL 26, 2012

ACCOUNTING |. Accounting & Finance. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. Greg is a Principal at Mountjoy, Chilton, Medley LLP , a CPA firm with a team of accountants dedicated to construction accounting. STRATEGY |. MANAGEMENT |. SOFTWARE |.

Change Orders 120

Change Orders Construction Profitability Software 120

Green Building Law Update

APRIL 7, 2020

Savvy players in the environmental industrial complex will find business opportunities to lead and profit in environmental matters, including opportunities advantaged by these newly enacted laws. The bill also establishes liability protections for MDE and the State. Nor does it in any other way prohibit or even regulate PFAS chemicals.

Maryland 156

Maryland Commissioning Regulation Environment 156

Levelset

AUGUST 16, 2022

To grow a construction business, contractors often pursue larger projects. Some contractors watch as their gross profit margins decrease when they take on larger jobs. A bonding company will want to understand the scope of a project and how it compares to work the contractor has completed in the past.

Risk 52

Risk Cash Flow Construction Banking 52

Construction Business Owner

AUGUST 18, 2011

ACCOUNTING |. Accounting & Finance. Many State and Federal projects require a contractor to be bonded. In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. Public Exposure and Liability on Construction Sites. Tags accounting.

Cash Flow 168

Cash Flow Software Software Accounting 168

Construction Business Owner

NOVEMBER 8, 2011

ACCOUNTING |. Accounting & Finance. It crystallizes our mission to make contractors’ jobs easier and we put that mission into our own words: “When better is possible, good is not enough.” Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. STRATEGY |. MANAGEMENT |.

Construction 174

Construction Software Software Accounting 174