ProcurementExpress.com

JANUARY 2, 2019

Work in progress figures might not sound like something you need to think much about. That’s accounting’s job, right? In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. WIP is one element of an inventory account. Well, not exactly.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

ProcurementExpress.com

JANUARY 2, 2019

Work in progress figures might not sound like something you need to think much about. That’s accounting’s job, right? In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. WIP is one element of an inventory account. Well, not exactly.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Contractor Bookkeeping

JUNE 1, 2018

Knowing how to use Work-In-Progress, Direct and Indirect Construction Costs is key. Understanding Overhead, Other Expenses, and Other Income compounds are also important. Proper QuickBooks set up, and Construction Accounting is the foundation to provide them.

Work in Progress 50

Work in Progress Overhead Accounting Profitability 50

Contractor Bookkeeping

JUNE 11, 2013

There is some confusion about the differences between job costing accounting and regular accounting which leads some contractors to believe they can get what they need from any bookkeeper and the cheaper the better. Two Basic Types Of Accounting. #1 Tax Accountants are good people and have a place in the accounting world.

Accounting 48

Accounting Bankruptcy Profitability Contractors 48

Contractor Bookkeeping

AUGUST 16, 2013

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.

Work in Progress 60

Work in Progress Accounting Construction Leases 60

Contractor Bookkeeping

AUGUST 27, 2014

QuickBooks Premier Accountant 2000 And Up. If your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly you are riding high and living well! The Chart of Accounts is the foundation and if your Chart of Accounts is not setup right you will not have anywhere to put the transactions.

Contractors 89

Contractors Accounting Work in Progress Profitability 89

Contractor Bookkeeping

AUGUST 15, 2014

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.

Contract 48

Contract Accounting Income Contractors 48