Remove Banking Remove Debt Remove Insurance Remove Overhead
article thumbnail

Construction Bookkeeping Unique Features

Contractor Bookkeeping

Bank Balance - Un-cleared Checks) = Cash. Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting. Bank Account - Escrow Deposits. Bank Account - Operating.

article thumbnail

Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

Some Contractors Hire Part Time Secretaries to do everything including construction bookkeeping and then wonder why their company debts keep growing and crushing them. Process payroll and include reimbursements, health insurance, loans and garnishments. Enter banking transfers between checking and savings accounts. Enter bills.

professionals

Sign Up for our Newsletter

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

article thumbnail

Contractors Are Renting Rather Than Buying More Equipment.

ENR Construction

Banking & Credit Crisis. --> Companies. Equipment rentals allow contractors to shift downtime risk while trimming expenses, including licensing, insurance, taxes and debt, among others. The recession prompted many contractors to thin their fleets in order to lower overhead and generate cash. Gulf Oil Spill. -->.

article thumbnail

Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Chart of Accounts Bad Debts. Chart of Accounts Customer Checks Returned From Bank. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Health And Dental. Insurance Audit Reporting. Bank Reconciliations.

article thumbnail

A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

00 62 16 Certificate of Insurance Form. Affidavit of Payment of Debts and Claims Form. 00 73 16 Insurance Requirements. 00 62 16 Certificate of Insurance Form. Affidavit of Payment of Debts and Claims Form. 00 73 16 Insurance Requirements. 00 62 16 Certificate of Insurance Form. Project Delivery.

article thumbnail

A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

00 62 16 Certificate of Insurance Form. Affidavit of Payment of Debts and Claims Form. 00 73 16 Insurance Requirements. 00 62 16 Certificate of Insurance Form. Affidavit of Payment of Debts and Claims Form. 00 73 16 Insurance Requirements. 00 62 16 Certificate of Insurance Form. Project Delivery.