Contractor Bookkeeping

JUNE 18, 2012

Bank Balance - Un-cleared Checks) = Cash. Expenses - Overhead required to maintain business operations. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. In this case some overhead costs were classified as direct costs and assigned to the job.

Contractors 58

Contractors Profitability Overhead Equity 58

Contractor Bookkeeping

MAY 17, 2013

Bank Balance - Un-cleared Checks) = Cash. Expenses - Overhead required to maintain business operations. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. In this case some overhead costs were classified as direct costs and assigned to the job.

Accounting 48

Accounting Contractors Profitability Overhead 48

Contractor Bookkeeping

AUGUST 16, 2013

Bank Balance - Un-cleared Checks) = Cash. Expenses - Overhead required to maintain business operations. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. Bank Account - Escrow Deposits. Bank Account - Operating. Bank Account - Job Deposits.

Work in Progress 60

Work in Progress Accounting Construction Leases 60

Contractor Bookkeeping

SEPTEMBER 23, 2013

You are not a bank so never, ever use your high interest credit cards and supplier accounts to provide financing to your customers in the form of providing a lot of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. 1 Annual sales of $250,000 with $45,000 net income including your salary. #2

Debt 49

Debt Construction Accounting Banking 49

Contractor Bookkeeping

FEBRUARY 5, 2014

Their primary function is to read the incoming paperwork (electronic and hard copy) and follow a pre-determined set of rules and guidelines to put each transaction where it needs to go in QuickBooks or Xero Accounting Online depending on which accounting software the construction contractor is using. Bank Balance - Un-cleared Checks) = Cash.

Accounting 48

Accounting Construction Profitability Contractors 48

Contractor Bookkeeping

AUGUST 15, 2014

QuickBooks Pro - Is great for contractors acting as Sole Proprietor with annual sales under $100,000 who simply need a way to keep track of basic income and expenses. When you spend money record it in the check register as an expense and when you receive money record it as income. Do you remodel existing homes and commercial spaces?

Contract 48

Contract Accounting Income Contractors 48

Contractor Bookkeeping

SEPTEMBER 20, 2013

Bank Balance - Un-cleared Checks) = Cash. Expenses - Overhead required to maintain business operations. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. In this case some overhead costs were classified as direct costs and assigned to the job.

Contractors 48

Contractors Accounting Profitability Overhead 48