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.) Does this sound familiar?

Banking 49
article thumbnail

Common Types of Construction Contracts And Their Use

cnstrctr

Under a lump sum contract the consultants are typically engaged by the owner and the contractor falls under a separate contract with the owner. The contract is typically governed by the prime consultant. It allows you to start construction before the drawings are complete.

professionals

Sign Up for our Newsletter

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

article thumbnail

Xero For Construction Companies That Find QuickBooks To Complex

Contractor Bookkeeping

Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Activate your bank and PayPal feeds for downloading into Xero. Connect your bank and PayPal feeds. Daily reconciliation of bank feeds. QuickBooks Is Best If You: Take Job Deposits. Have Change Orders.

article thumbnail

QuickBooks To Xero Conversion

Contractor Bookkeeping

Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Activate your bank and PayPal feeds for downloading into Xero. Connect your bank and PayPal feeds. Daily reconciliation of bank feeds. QuickBooks Works Best If You: Take Job Deposits. Have Change Orders.

article thumbnail

Give ‘Real BIM’ a chance to be a Game-changer in AEC! ‘Real BIM’ could be the weapon for changing the game in the global AEC. There still are small fish with professional integrity surviving within the global waters of the AEC consultancy market wanting to strike back against the over-franchisers, purely business oriented BIG fish practising ‘Pretend BIM’ and redefine how the AEC is run; Real BIM could be the answer.

DebunkTheBIM

The trend, that originated somewhere in the 1980s too – and my term for it is, ‘The Global Takeover of the AEC consultancy Market by a Controlling Few’. Other industries had done it, some quite a long time ago, financial institutions, banks, the transportation, hospitality even the educational industry.

BIM 48
article thumbnail

Wave To Xero Accounting Conversion For Construction Companies

Contractor Bookkeeping

Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Activate your bank and PayPal feeds for downloading into Xero. Connect your bank and PayPal feeds. Daily reconciliation of bank feeds. Have Change Orders. Issue Multiple Invoices. Need Job Costing Reports.

article thumbnail

PeachTree To Xero Accounting Conversion For Construction Companies

Contractor Bookkeeping

Periodic Invoices For Bank draws. Previous year end bank, credit card and other account balances. Activate your bank and PayPal feeds for downloading into Xero. Connect your bank and PayPal feeds. Daily reconciliation of bank feeds. Have Change Orders. Issue Multiple Invoices. Need Job Costing Reports.