Levelset
MARCH 21, 2022
Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet.
Levelset
MAY 23, 2022
From buying materials to hiring crews, business begins when cash flows. If you’re a specialty contractor who needs cash flow solutions, you’re not alone. In this article, you’ll discover five tips to improve your cash flow so that you can grow your business and increase financial flexibility.
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Levelset
APRIL 5, 2022
Contractors can take on more work than their cash flow will let them perform, leaving them scrambling for cash to pay their bills or their employees. Ensuring consistent cash flow throughout a project is the key to scaling your contracting business. Why contractors run out of cash. But what about cash flow?
Levelset
AUGUST 5, 2022
Pay close attention to cash flow. Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. Architectural firms need to monitor the cash coming in and going out of the business to ensure they have enough on hand to cover critical expenses.
Levelset
JUNE 6, 2022
When the $90,000 is paid, it is posted with a debit to the bank or cash account and a credit to accounts receivable, clearing the account for that project. Debit Credit Bank or cash $90,000 Retention receivable $90,000. Debit Credit Bank or cash $10,000 Retention receivable $10,000.
Levelset
AUGUST 16, 2022
The surety is also likely to explore a contractor’s payment history on past projects — an inability to make on-time payments to subcontractors and suppliers can increase the risk of mechanics liens or bond claims. . Sureties calculate working capital more conservatively than other credit providers or banks. Ability to absorb losses.
Contractor Bookkeeping
MARCH 9, 2013
Sending the Notice to Owner of Intent To Lien to protect my financial interests. Enter banking transactions including EFT, ACH, NSF, checks, debits and automatic payments. Enter banking transfers between checking and savings accounts. Watch for fraudulent charges on bank and credit card statements. Enter bank deposits.
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