Remove Banking Remove Cash Flow Remove Management Remove Remodeling
article thumbnail

How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. Home Builder Doing A Residential Remodel.

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 49
professionals

Sign Up for our Newsletter

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

article thumbnail

Spec Home Builders Have Unique Bookkeeping Needs

Contractor Bookkeeping

Spec Home Builders - Need people trained in construction bookkeeping who understand how to put together a bank draw correctly, not someone with experience in regular bookkeeping. What You Can Expect From Our Remodel Contractor Bookkeeping Services: Professional Bookkeepers with over 10,000 hours of practice. We know what to do!

Banking 54
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. Business Processes Management. We know what to do! Retention Tracking System.

article thumbnail

Contractors We Help To Succeed

Contractor Bookkeeping

Seeing the joy on a homeowner's face when the new home is finished or when the big remodel is done gives contractors a lot of satisfaction and feelings of accomplishment. Now you are using it as an expensive check register that doesn't even match the bank statements. We Help Contractors Who Want The Company They Dreamed Of Owning.

article thumbnail

Which Contractors We Help To Succeed

Contractor Bookkeeping

Seeing the joy on a homeowner's face when the new home is finished or when the big remodel is done gives contractors a lot of satisfaction and feelings of accomplishment. Now you are using it as an expensive check register that doesn't even match the bank statements. We Help Contractors Who Want The Company They Dreamed Of Owning.

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. BPM – Business Process Management for construction company owners to grow passive income streams.