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Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Cash flow is the lifeblood of any construction company and especially the ones with annual sales volume under $1,000,000. Some construction Company experts even say that a healthy cash flow is more important than your contracting company''s ability to complete projects! Is Cash Flow The Same As Profit?

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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

Service agreement holders are more likely to be clients that add more value to your construction company because they represent the most loyal segment of your customer base. In the meantime, service agreement customers are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary.

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Washington State Department of Revenue Sending E-Mail To Contractors

Contractor Bookkeeping

Washington State Department of Revenue is sending emails to all construction Contractors and other business owners. A new message regarding a change to the Department of Revenue''s banking information is waiting in your Secure Messaging Inbox regarding your account. Many banks will process payments and then any pending deposits.

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Contractor Cash Flow Problems Caused By A Bookkeeping Troll

Contractor Bookkeeping

This is a special type of bookkeeper who BS's their way into a job as a construction bookkeeper with little or no construction accounting skills and in a short time find themselves in over their head with no way out except to keep the game going until they are discovered. At that point he knew something was very, very wrong.

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Washington State Contractors - Time To Get 2014 Resale Certificate

Contractor Bookkeeping

Construction Companies - In Washington State contractors selling material (as part of your service) is a taxable event. You Can Pay Sales Tax - On every purchase as you go if you have unlimited cash flow? One example is builders (depending on type of construction) must always pay sales tax “as they go”.

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You Have HUD-1 Statements And Your Bank Wants Financial Statements

Contractor Bookkeeping

You are a spec home builder in need of a construction draw and your bank or lender wants to see your latest financial reports and this time they want all of the current houses you are working on to be reflected in QuickBooks correctly as Work-In-Process (W.I.P.) Not all construction workers are the same.

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When Being A Licensed Contractor Is Just Not Enough!

Contractor Bookkeeping

If you are doing construction work in Washington State You can start here https://fortress.wa.gov/lni/bbip/Search.aspx - mobile app is coming. The common factor is they are all concerned about tax revenues and unlicensed construction contractors. In Washington State you can do it through The Department of Labor And Industries.