Banking, Change Orders, Insurance and Profitability - Professional Constructor Central

Green Buildings are Subsidizing Conventional Buildings Stymying Climate Progress

Green Building Law Update

APRIL 4, 2021

The financial value of green buildings is well documented, from commanding higher rents, greater occupancy rates, and increased occupant satisfaction, to lower operating costs for everything from reduced insurance premiums and less energy utilized, easily resulting in an increased return on investment of more than 9% over conventional building.

Green

Green Debt Security Commercial

Construction Business Owner Blogs

Construction Business Owner

OCTOBER 14, 2011

INSURANCE |. Some Advice on Change Orders » A Change (Order) for the Better? When clients ask me about change orders, I’m reminded of a well-circulated photo. The yacht is named “Change Order.” Yes, change orders are nearly inevitable. STRATEGY |.

Change Orders

Change Orders Construction Software Software

Construction Business Owner Blogs

Construction Business Owner

FEBRUARY 16, 2012

INSURANCE |. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Building your case beforehand can certainly help and makes you look better in the eyes of the bank. Crunch the numbers – Banks like proactive business owners.

Banking

Banking Construction Cash Flow Finance

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

Contractor Bookkeeping

SEPTEMBER 27, 2013

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.) We have a FREE change order form you can download here.

Banking

Banking Change Orders Accounting Cash Flow

Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

OCTOBER 4, 2013

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. The really good news they are on the banks payroll.

Profitability

Profitability Construction Accounting Cash Flow

Builders, Stop the Waste!

Pro Builder

JANUARY 6, 2021

Less Waste, More Profit in 10 (Not So Easy) Steps. Figure two people per order, on average, and you end up with more than a billion dollars annually in wasted ketchup! . To put that in perspective, the burger chain’s net profit for 2019 was $6.03 Process Perils and Profit for Home Builders. What’s a columnist to do?!

Profitability

Profitability Products Banking US

Construction Business Owner Blogs

Construction Business Owner

MARCH 6, 2011

INSURANCE |. It got me to thinking not only about how poorly managed large companies within an industry of that size and importance must be in order to collapse like it did, but also what makes something “Too big to fail”? What would you do next week if you lost that job you had been banking on? change orders.

Construction

Construction Software Software Accounting

Construction Business Owner Blogs

Construction Business Owner

FEBRUARY 23, 2012

Security

Security Construction Software Software

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

JUNE 20, 2014

You do all the work they get half the profits and you politely refuse. Go To Your Bank - And they offer you a line of credit. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Bank Accounts - Set up two bank accounts in your company name.

Insurance

Insurance Construction Accounting Claims

Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

MARCH 9, 2013

Tracking change orders in QuickBooks for Contractors for each job. Double checking to make sure the contractor gets paid for all change orders. Process payroll and include reimbursements, health insurance, loans and garnishments. Enter banking transfers between checking and savings accounts. Go to the bank.

Contractors

Contractors Cash Flow Banking Change Orders

We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

JANUARY 2, 2015

The idea was you would do all the work they would get half the profits and you politely refused, or not? Did You Go To Your Bank - And they offered to give you a line of credit. Bank Accounts - Set up two bank accounts in your company name. Insurance - Is critical to your construction company.

Construction

Construction Insurance Accounting Claims

New Contractor Business Start Up

Contractor Bookkeeping

JUNE 15, 2012

You do all the work they get half the profits and you politely refuse. Go To Your Bank - And they offer you a line of credit. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Bank Accounts - Set up two bank accounts in your company name.

Contractors

Contractors Insurance Claims Lien

Construction Business Owner Blogs

Construction Business Owner

MARCH 29, 2012

Construction

Construction BIM Software Software

Xero To QuickBooks Conversion

Contractor Bookkeeping

NOVEMBER 1, 2013

Have Change Orders. Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Insurance Audit Support Service. If this describes you then perhaps QuickBooks is a better fit for you than Xero. QuickBooks Works Best If You: Take Job Deposits. Issue Multiple Invoices.

Accounting

Accounting Contractors Project Management Change Orders

QuickBooks Enterprise To QuickBooks Conversion

Contractor Bookkeeping

NOVEMBER 25, 2013

Have Change Orders. Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Insurance Audit Support Service. If this describes you then perhaps QuickBooks Desktop Version In The Cloud is a better fit for you than QuickBooks Enterprise. Issue Multiple Invoices.

Accounting

Accounting Contractors Project Management Change Orders

Quicken To QuickBooks Conversion

Contractor Bookkeeping

NOVEMBER 25, 2013

Have Change Orders. Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Insurance Audit Support Service. If this describes you then perhaps QuickBooks Desktop Version In The Cloud is a better fit for you than Quicken. Issue Multiple Invoices. Need Job Costing Reports.

Accounting

Accounting Contractors Project Management Change Orders

Quicken For Mac To QuickBooks Windows Conversion

Contractor Bookkeeping

NOVEMBER 25, 2013

Have Change Orders. Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Insurance Audit Support Service. If this describes you then perhaps QuickBooks Desktop Version In The Cloud is a better fit for you than Quicken For Mac. Issue Multiple Invoices. Job Cost Reports.

Accounting

Accounting Contractors Project Management Change Orders

FreshBooks To QuickBooks Conversion For Construction Companies

Contractor Bookkeeping

NOVEMBER 7, 2013

Have Change Orders. Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Insurance Audit Support Service. If this describes you then perhaps QuickBooks Desktop Version In The Cloud is a better fit for you than Freshbooks Accounting. Issue Multiple Invoices.

Accounting

Accounting Construction Contractors Project Management

Xero Accounting To QuickBooks Conversion For Construction Companies

Contractor Bookkeeping

NOVEMBER 1, 2013

Have Change Orders. Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Insurance Audit Support Service. If this describes you then perhaps QuickBooks is a better fit for you than Xero. QuickBooks Desktop Version In The Cloud Works Best If You: Take Job Deposits.

Accounting

Accounting Construction Contractors Project Management

Invoice With Your Smartphone And QuickBooks Or Xero Accounting Online

Contractor Bookkeeping

JANUARY 6, 2014

Have Change Orders. Need Periodic Invoices For Bank draws. Xero Accounting Online will have updated your Sales Report, Profit & Loss Report, Balance Sheet Report and a lot more reports before you finished reading this sentence. Previous year end bank, credit card and other account balances.

Accounting

Accounting Contractors Work in Progress Banking

FAQ's About Outsourced Contractors Bookkeeping Services

Contractor Bookkeeping

FEBRUARY 14, 2014

If you were to research some of the newspaper and magazine articles from the early 1800''s though today regarding the construction industry and contractors in general you will find not much has changed. It has always been and will likely always be that: 95 out of 100 contractors will earn less than 3% net profit. per hour (See below).

FAQ

FAQ Contractors Accounting Security

Does Cheap Outsourced Contractor Bookkeeping Services Save Money?

Contractor Bookkeeping

MAY 13, 2013

The problem is that 20% they do not get can really hurt bottom line profits and possibly cause the contractor to pay more in taxes than the saved in contractor bookkeeping services fees. Insurance Audit Reporting. Insurance Audit Support (Business Consulting And Accounting Office). Bank Reconciliations.

Contractors

Contractors Leases Schedule Banking

Construction Business Owner Blogs

Construction Business Owner

JUNE 8, 2011

INSURANCE |. The trouble is that banks often don’t have the capital cushion to foreclose on large properties and take the hit against their lending limit. If you haven’t already done so, now is the time to hone your processes to the point where you are making profit on even small projects. change orders.

Construction

Construction Software Software Equity

Steps To Obtaining A Surety Bond

Contractor Bookkeeping

MARCH 25, 2014

Having an established bank line-of-credit generally provides sureties with this comfort; References – Sureties typically want letters of recommendation from subcontractors, owners, architects, and engineers on your completed projects. These schedules will list important financial issues on your bonded projects.

Cash Flow

Cash Flow Accounting Profitability Work in Progress

Construction Business Owner Blogs

Construction Business Owner

MAY 11, 2011

INSURANCE |. The trouble is that banks often don’t have the capital cushion to foreclose on large properties and take the hit against their lending limit. If you haven’t already done so, now is the time to hone your processes to the point where you are making profit on even small projects. change orders.

Construction

Construction Software Software Equity

Custom Home Builders Have Unique Bookkeeping Needs

Contractor Bookkeeping

JULY 18, 2012

They could do a fine job, the only question is how long would it take and would you be able to charge the homeowner enough to make a substaintial profit? Custom 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.

Cash Flow

Cash Flow Remodeling Profitability Banking