Chianelli Estimating
JANUARY 30, 2020
Recently Contractors and Owners have found that Outsource Estimating is becoming a practical way to cut overhead. Should a contractor fail, it can open up an onslaught of problems, which could lead to a domino effect putting the project in peril; lawsuits, liens, lost time and progress to name just a few.
Levelset
AUGUST 17, 2022
Where direct labor is the percentage of salaries that are spent on billable work (rather than overhead time). Utilization rate is a measure of the percentage of hours spent on billable projects versus overhead or administrative work. The break-even rate is calculated by taking total operating expenses divided by direct labor expenses.
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Levelset
APRIL 5, 2022
Otherwise, you could be overdrawn on your account. You can save your existing cash reserves to cover payroll and overhead costs, and the extended repayment terms ensures that you’ll have project income in the bank when the bill comes due. Last but not least, establish and follow your company’s mechanics lien policy.
Levelset
AUGUST 4, 2022
This is in contrast to an accrual basis , which is a form of accounting that tracks revenue and expenses when they are incurred, not when they are paid or received. Each of the categories above can be further broken down into a more detailed list that provides the structure for the business’ chart of accounts.
Contractor Bookkeeping
MARCH 9, 2013
Sending the Notice to Owner of Intent To Lien to protect my financial interests. Maintain and update vendor list with contact information, account numbers and terms. Enter banking transfers between checking and savings accounts. Separate direct and indirect job costs from overhead.
Levelset
JULY 22, 2022
Obtain a business bank account and any software or staff you’ll need for accounting and bookkeeping. It’s important to keep your business’ finances separate from your personal accounts. New businesses can leverage technology, automation, and lower overhead costs to compete with existing businesses.
Levelset
JULY 18, 2022
Obtain a business bank account and any software or staff you’ll need for accounting and bookkeeping. It’s important to keep your business’ finances separate from your personal accounts. If you have an accountant, work with them to create a real-time view of your cash flow that you can check at any time.
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