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Construction Bad Debt What To Do About It

Contractor Bookkeeping

All construction contractors have experienced the financial pain of bad debt which is defined as a customer who refuses to pay no matter what you do. Oddly enough most of them paid the debt years later and all of them were very appreciative that we treated them with courtesy and respect. Knowing The Answers Helps.

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Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Furthermore, this cash flow gap may cause you to miss other profit opportunities, damage your credit rating, and force you to take out loans and create debt. The sooner you learn how to manage your cash flow, the better your chances for survival. Narrowing, or even closing, these gaps is the key to cash flow management.

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As Economy Heats Up Your Bookkeeper May Leave For Bigger Better Deal

Contractor Bookkeeping

Internal Accounting - The part that provides information for the Business Process Management system and generates reports for business owners to read and make decisions about what jobs are profitable and what jobs are not and the reasons why it is that way. After A Few Months - The bank started bouncing Fred''s checks.

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Contractors Use Google Earth Like A Giant Stanley Tape Measure

Contractor Bookkeeping

Which means if they invest $100 today we would like to see the money back in the company bank account in four years? For Our Financial Analyst , financial manager and economist and statistician friends reading this I know what you are thinking: What about the Present Value? How will it affect the debt to equity ratio?

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Xero Accounting Online Setup Errors Fixed Fast And Easy!

Contractor Bookkeeping

Connect your bank and PayPal feeds. We Can Convert The Following To Xero Accounting: Shoe Box Full Of Paperwork, Receipts And Bank Statements. Chart of Accounts Bad Debts. Chart of Accounts Customer Checks Returned From Bank. Bank Reconciliations. Custom Management Reports. Set up your Chart of Accounts.

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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

Owner’s equity is in theory what would be left over if you liquidated the company, sold the assets and paid all of the debts or liabilities. Successful contractors put the cash in another interest bearing bank account and do not transfer any of it until the work is performed. Business Process Management (BPM) For Contractors.

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Unique Contractor Investment Can Exceed 100% Return

Contractor Bookkeeping

I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. This Is One More Example of how Fast Easy Accounting is helping construction company owners all across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company.