Contractor Bookkeeping

JUNE 22, 2012

Construction Accounting - Is our special expertise which means all of my writing is addressed to members of the construction industry and how we can help them with QuickBooks Setup, QuickBooks Clean-Up and Cloud Based Online Bookkeeping Services. . #1 We really appreciate working with C.P.A.'s and if you have one now keep them.

Profitability 48

Profitability Contractors Accounting Banking 48

Levelset

MAY 2, 2022

If your credit limit hasn’t been raised recently, it may be based on outdated financial statements — the ones you provided when you originally opened the account. If you can show that you’ve been growing and seen an increase in work while remaining profitable, the vendor may feel comfortable increasing your limit.

Negotiation 52

Negotiation Materials Cash Flow Finance 52

Contractor Bookkeeping

FEBRUARY 28, 2014

Construction Company Failure Root Causes: Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit.

Profitability 48

Profitability Contractors Cash Flow Accounting 48

Contractor Bookkeeping

JUNE 28, 2013

During QuickBooks setup and especially QuickBooks for contractors one of the most dangerous and difficult steps is setting the Chart of Accounts. Sample Chart of Accounts Groups. All Other Contractors - Will normally only need accounts from group #2 and #3. Are there any back charge issues to be tracked?

Contractors 48

Contractors Accounting Income Work in Progress 48

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

Contractor Bookkeeping

JANUARY 16, 2013

Income Tax Preparers - Earn money filling out tax forms, not doing QuickBooks cleanup for construction! Income Tax Preparers Are Paid To Fill Out Tax Forms! Income Tax Preparers Are Paid To Fill Out Tax Forms! They may suspect you are paying too much in taxes if your QuickBooks for Contractors is a mess.

Contractors 53

Contractors Income Change Orders Work in Progress 53

Contractor Bookkeeping

FEBRUARY 14, 2014

It has always been and will likely always be that: 95 out of 100 contractors will earn less than 3% net profit. 4 out of 100 contractors will earn between 3%-15% net profit. 1 out of 100 contractors will earn in excess of 15% net profit. profit went straight to the bottom line. Who will service my account?

FAQ 49

FAQ Contractors Accounting Security 49

Contractor Bookkeeping

JUNE 18, 2013

Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit. Work-In-Progress (WIP) report the ultimate gauge for cash flow and least understood.

Cash Flow 48

Cash Flow Construction Change Orders Contractors 48

Contractor Bookkeeping

SEPTEMBER 1, 2012

To control spam, I now allow incoming messages only from senders I have approved beforehand. How can we be of help with accounting, bookkeeping or consulting? Step 3: We agree on a plan of action, determine pricing, when you say yes we go to work! Is your #1 Favorite Customer adding or taking away profits and cash flow?

Accounting 48

Accounting Cash Flow Remodeling Consulting 48

Contractor Bookkeeping

JUNE 13, 2012

Reports Tax Accountants Use Are Profit & Loss And Balance Sheet. For Example - Income can be all of the deposits from bank statements which may have come from a single z-tape each day. As the business owner you may want to know more specific information about your costs and your income in order to make intelligent decisions.

Accounting 48

Accounting Banking Profitability Income 48

ProcurementExpress.com

JULY 15, 2019

There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement, and more. Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. Embrace Automation.

Cash Flow 68

Cash Flow Contractors Budgeting Budget 68

ProcurementExpress.com

JULY 15, 2019

There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement , and more. Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. Embrace Automation.

Cash Flow 52

Cash Flow Contractors Budgeting Budget 52

Contractor Bookkeeping

MARCH 25, 2014

Also, a professional producer will be able to introduce you to other professionals and consultants, such as accountants and attorneys who can help grow your business. By far, the most important thing you can do in preparing these financial statements is to use an accountant which has specific construction-industry experience.

Cash Flow 52

Cash Flow Accounting Profitability Work in Progress 52

Contractor Bookkeeping

OCTOBER 11, 2013

Recently A Builder Who Constructs Spec And Custom Homes as well as a few custom remodel projects contacted us because his in house bookkeeper could not provide him with Job Costing Reports or Work-In-Progress Reports that made any sense. Tax preparers make horrible construction accountants and the other way around!

Office 48

Office Accounting Profitability Contractors 48

Contractor Bookkeeping

MAY 31, 2013

Back In The “Old Days” a set of scales was used – one side for income and other for expenses. That was a simple way to determine Profit and Loss. There are accounting systems that deal with both quantity and quality. The Accounting Software You Need Depends On The Level Of Reports You Require. It’s cheap!"…."I

Contractors 48

Contractors Accounting Change Orders Software 48

Contractor Bookkeeping

MAY 31, 2013

Back In The “Old Days” a set of scales was used – one side for income and other for expenses. That was a simple way to determine Profit and Loss. There are accounting systems that deal with both quantity and quality. The Accounting Software You Need Depends On The Level Of Reports You Require. It’s cheap!"…."I

Contractors 48

Contractors Accounting Change Orders Software 48

Contractor Bookkeeping

JULY 18, 2012

You would never hire a construction worker with a background as a handyman to be on your framing crew because they are trained to take their time, lay out tarps in the work area and think about every piece of lumber before cutting and installing it. We spent years and thousands of dollars developing a process that works with QuickBooks.

Cash Flow 48

Cash Flow Remodeling Profitability Banking 48