article thumbnail

Construction Business Owner Blogs

Construction Business Owner

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.” Discussion about change order difficulties tends to be one of two types.

article thumbnail

How to Avoid Running Out of Cash on a Construction Project

Levelset

In this article, we’ll explore some strategies to help you keep money in the bank. It’s important to lock in materials costs early or request a change order to cover price increases. They include leveraging trade credit accounts from vendors, bank lines of credit, credit cards, invoice factoring, and equipment financing.

professionals

Sign Up for our Newsletter

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

article thumbnail

Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

Tracking change orders in QuickBooks for Contractors for each job. Double checking to make sure the contractor gets paid for all change orders. Enter banking transactions including EFT, ACH, NSF, checks, debits and automatic payments. Enter banking transfers between checking and savings accounts.

article thumbnail

Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

You Want Money; Banks Want To Lend Money, What''s The Problem? Did change order work that you never got paid for doing and never will. Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money. Banks stay in business is by loaning money and earning interest.

Finance 48
article thumbnail

Contractors Need Reports Not Bookkeeping

Contractor Bookkeeping

Would it be helpful to know more information than just how much and when the checks cleared the bank? High Overhead Costs (in-house server). Midsize Construction Companies who view construction accounting as an “Overhead Expense” or "Waste of Money" will try to get buy on the cheap. I can download from the banks"…."I

article thumbnail

Contractors Want Reports Not Bookkeeping

Contractor Bookkeeping

Would it be helpful to know more information than just how much and when the checks cleared the bank? High Overhead Costs (in-house server). Midsize Construction Companies who view construction accounting as an “Overhead Expense” or "Waste of Money" will try to get buy on the cheap. I can download from the banks"…."I

article thumbnail

Steps To Obtaining A Surety Bond

Contractor Bookkeeping

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.