Remove Banking Remove Cash Flow Remove Consulting Remove Remodeling
article thumbnail

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.) Pay Application Invoicing For Remodel Projects. Does this sound familiar?

Banking 48
article thumbnail

Home Builders Who Need To Keep Track Of Specialty Contractor Costs

Contractor Bookkeeping

Spec Home Builders - Need people trained in construction accounting who understand how to put together a bank draw correctly, not someone with experience in regular bookkeeping. Pay Application Invoicing For Remodel Projects. We know what to do! Quarterly Tax Returns. Sales Tax Returns. Payroll Processing. Contractor Invoicing.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Bad Debt What To Do About It

Contractor Bookkeeping

You are not a bank so never, ever use your high interest credit cards and supplier accounts to provide financing to your customers in the form of providing a lot of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. Answer #3 - Contractors Are Not Bankers.

Debt 49
article thumbnail

Serious And Funny Construction Definitions Contractors Enjoy Reading

Contractor Bookkeeping

Assets of Company - Cash / Receivables – Payables / Trucks / Tools / Equipment / Material. Assets of Firm - Cash / Business Process / Sales Process / Client List / Predictable Cash Flow. Construction Consultant - Someone who has seen a bunch of tax returns and thinks they know how to run a construction business.

article thumbnail

QuickBooks Contractor Unique Payment Application Issues Solved

Contractor Bookkeeping

Payment Applications For Residential Remodel & Commercial Tenant Improvement Contractors. Learn More About Residential Remodel Payment Applications. All construction problems are related to cash flow or communication. As soon as I need money I will ask for it - See Cash Flow Diagram. Simple Invoice.

article thumbnail

Contractor's Unique Business Plan Outline

Contractor Bookkeeping

Cash flow and Profit is not accident, it is a result of deliberate action. New, remodel, service and repair? #3 Contractors typically run their business with a daily print out from the online account at their bank. PRO: Prior Planning Prevents Poor Performance. When you take a vacation you plan for it.

Plans 48
article thumbnail

Unique Technology Processes Reduces Construction Labor Costs

Contractor Bookkeeping

The purpose of this article is to find construction company owners who want to position themselves to take advantage of the coming harvest of pent-up remodel, repair and commercial tenant improvement demand that will occur in the next seven years beginning in 2014 and need help to stay in business now. For Your Construction Company.