Remove Banking Remove Income Remove Inventory Remove Project Management
article thumbnail

Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. The concept of profit is somewhat broad and only looks at income and expenses over a certain period, say a fiscal quarter. Keep your inventory as low as possible. Cash is king!

article thumbnail

Unique Bookkeeper Errors Reduce Contractor Profits

Contractor Bookkeeping

Excessive Accounts Were setup to track individual inventory items like lumber, nails, paint, pipe, roofing material, dirt, bark etcetera. Financial Reports Were Worthless Profit & Loss Reports showed massive income because Cost of Goods Sold (COGS) accounts were understated. The Key Colum - Is the Percentage (%) of Income.

professionals

Sign Up for our Newsletter

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

article thumbnail

Builder of the Year Ivory Homes' Innovation Agenda

Pro Builder

Having witnessed income and social class inequities entrenched by corruption on their European mission, and a system in which government officials and business entrepreneurs rarely collaborate to solve civic and social problems, the Ivorys recognized the seeds of similar dynamics in their own backyard. See past Builder of the Year winners.

article thumbnail

QuickBooks Online Converted To QuickBooks Contractors Desktop Online

Contractor Bookkeeping

No Inventory Reporting. Bank Balance - Un-cleared Checks) = Cash. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. He is experienced as a Contractor, Project Management Professional and Construction Accountant and Intuit ProAdvisor.

article thumbnail

FAQ's About Outsourced Contractors Bookkeeping Services

Contractor Bookkeeping

It includes a brief overview of our outsourced contractors bookkeeping system that allows us to service a number of combinations of construction companies including: One Income Contractors: Handyman Services. Multiple Income Contractors: Handyman + General + Remodel. Any Combination With An Inventory Of Rental Properties.

FAQ 49
article thumbnail

Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. The project manager should process a change order immediately, rather than waiting until a project is complete—or worse, failing to use them at all.

article thumbnail

Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. The project manager should process a change order immediately, rather than waiting until a project is complete—or worse, failing to use them at all.