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Construction Company Profits Are Easy To Understand

Contractor Bookkeeping

Income - COGS - Expenses] = Profit. "If For contractors not familiar with income and expenses flow for a typical mid-size construction job, consider the following general example. Month 2: Labor, materials, G&A (overhead) are expensed by the contractor for Month 2, but no payments (draws) are still behind the job costs for Month 2.

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Construction Company Cash Flows Are Easy To Understand

Contractor Bookkeeping

Month 2: Labor, materials, G&A (overhead) are expensed by the contractor for Month 2, but no payments (draws) are still behind the job costs for Month 2. Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. Learn more.

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Contractor Bookkeeping Services Lies

Contractor Bookkeeping

Contractors are "Producers" who live in the real world, earn a decent living and build retirement nest eggs and streams of passive income. We will assign a dedicated bookkeeper to your account". Skilled bookkeepers and accountants much more than $10.00 Here are the three biggest lies: "Bookkeeping Services $5.00 And Hour". "30

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Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

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. QuickBooks Premier Accountant 2000 And Up. Chart of Accounts Direct Construction Costs.

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Construction Bookkeeping Unique Features

Contractor Bookkeeping

All Accounting Uses The Accounting Equation. Regular Bookkeeping - Is roughly 80% of all accounting for businesses in the world. Expenses - Overhead required to maintain business operations. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item.

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Choosing QuickBooks Version For Your Contracting Company

Contractor Bookkeeping

QuickBooks Pro - Is great for contractors acting as Sole Proprietor with annual sales under $100,000 who simply need a way to keep track of basic income and expenses. When you spend money record it in the check register as an expense and when you receive money record it as income. In the hands of an accountant or C.P.A.

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Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. Cash is king!