Contractor Bookkeeping

JANUARY 11, 2019

Running a contractor operation takes a pretty special individual, especially since there are going to be so many different moving parts with each and every project your contracting outfit takes on.

Cash Flow 62

Cash Flow Finance Contractors Contract 62

Levelset

FEBRUARY 3, 2023

Managing cash flow in the construction industry is difficult in any economy, but during a recession, specialty contractors face even more financial challenges than usual. At Levelset, we understand the construction industry and the importance of cash flow security for specialty contractors.

Finance 52

Finance Cash Flow Materials Security 52

Autodesk Construction Cloud

FEBRUARY 1, 2024

Despite this, both general contractors and subcontractors struggle with the complexities of the payment process and face significant cash flow obstacles. Time and time again, I hear about contractors’ frustrations and struggles with late payments and cash flow and how it negatively impacts their businesses.

Autodesk 87

Autodesk Cash Flow Construction Risk 87

Levelset

FEBRUARY 18, 2022

In Minnesota, prevailing wage laws apply to state-funded construction projects that are over $2,500 with one trade contractor or over $25,000 with more than one trade contractor. They are determined by the current rates in force at the time the project goes out for bid and are usually included in the bid and contract documents.

Minnesota 52

Minnesota Contractors Cash Flow Finance 52

Autodesk Construction Cloud

JUNE 8, 2023

Implement centralized and connected bid management Bid management sometimes feels like a whirlwind, where you’re tasked to review a slew of projects and go over numerous documents and information. When the process isn’t carried out efficiently, bid management takes longer and causes more stress than necessary.

Profitability 98

Profitability Bidding Estimating Risk 98

Levelset

FEBRUARY 15, 2022

Contractors working in Pennsylvania on public works projects must pay their workers on a weekly basis. The prevailing wage rates for a project must be posted by the general contractor and each subcontractor on-site. The contracting authority provides bidders with the prevailing wage rates within the bid and contract documents.

Pennsylvania 52

Pennsylvania Contractors Cash Flow Contract 52

Pro Builder

APRIL 19, 2021

5 Reasons to Use Mechanical Contractor Software. Construction software technology has not only helped general contractors but assisted trade contractors to provide their vital services and bring projects to completion. The same is true for mechanical contractors. Mon, 04/19/2021 - 06:00. 2) Time & Productivity Management.

Software 52

Software Software Contractors Change Orders 52

Viewpoint Construction Technology

OCTOBER 23, 2018

Many contractors are practically drowning in data and don’t have the right tools to parse and analyze the data in ways that would have meaningful impacts on their projects. We’ve heard our customers discuss it at both our Digital Contractor Roadshows and our Collaborate 2018 user conference this year. That, however, is changing.

Construction 241

Construction Software Software Cash Flow 241

Contractor Bookkeeping

NOVEMBER 5, 2021

Every contractor has a Job Costing Library; some keep it in their head, some keep it on paper with names like completed jobs, bids, estimates. Other contractors keep it in their QuickBooks For Contractors' software records. These are similar to the "Flat Rate Books" used by car repair shops for decades.

Construction 99

Construction Bidding Contractors Estimating 99

Levelset

APRIL 28, 2022

In recent years, inflation, supply chain issues, and labor shortages have only increased the likelihood of project delays, performance issues, and contractor default. While general contractors commonly use performance bonds to reduce the risk of default, a bond ultimately protects the property owner, not the GC.

Insurance 52

Insurance Contractors Claims ABC 52

Levelset

JULY 25, 2022

Debt capital can be vital for managing cash flow in construction. Debt payments spread out the cost of a large purchase over time, enabling a construction company to continue to take on new jobs and bring in revenue to tackle the debt while still maintaining enough cash to pay operating costs and grow. .

Debt 97

Debt Cash Flow Equity Finance 97

Autodesk Construction Cloud

NOVEMBER 16, 2022

The Associated General Contractors of America (AGC) cites research from Deloitte, which shows that “diverse companies had 2.3 times higher cash flow per employee over a three-year period than non-diverse companies.” Easily find diverse trade partners during the bidding process.

Certification 96

Certification AGC Cash Flow Bidding 96

Construction Junkie

MARCH 29, 2021

Associated General Contractors of America (AGC) recently completed a comprehensive survey of nearly 1500 contractor members to see how the ongoing pandemic is still affecting their business. Among the challenges still facing many are supply chain constraints, rising material costs, and project delays and cancellations. “The

Cash Flow 96

Cash Flow Construction AGC Fabrication 96

Lets Build

AUGUST 4, 2023

With the software, you can automate labour and material costs, standardise bids, and get accurate estimations based on previous costs and bids. This includes blueprints, legal contracts, building codes, budget documents, proposals, bids, etc. This allows you to work within the budget.

Software 78

Software Software Construction Budgeting 78

Levelset

APRIL 1, 2022

As a contractor or sub, you can expect to incur many costs during the course of a construction project. Theft from construction sites is a serious issue, and it costs contractors a lot of money each year. Theft from construction sites is a serious issue, and it costs contractors a lot of money each year. Restricted cash flow.

Site 52

Site Cash Flow Insurance Construction 52

Lets Build

AUGUST 4, 2023

With the software, you can automate labour and material costs, standardise bids, and get accurate estimations based on previous costs and bids. This includes blueprints, legal contracts, building codes, budget documents, proposals, bids, etc. This allows you to work within the budget.

Software 78

Software Software Construction Budgeting 78

Contractor Bookkeeping

JULY 27, 2012

Please feel free to share them with your friends, relatives and most importantly contractors as they will appreciate the humor and perhaps find value in the words of wisdom we are sharing. 80/20 Rule – 80% of a contractor’s wealth and wellbeing comes from 20% of their activities.

Contractors 63

Contractors Cash Flow Construction Accounting 63

Construction Business Owner

AUGUST 18, 2011

And that seemed to strike a chord with some of you, so I figured I’d talk more about government jobs, and what you need to be prepared to bid on them. Many State and Federal projects require a contractor to be bonded. This report illustrates how a contractor bills a client versus the work they have actually completed.

Cash Flow 168

Cash Flow Software Software Accounting 168

Construction Law

OCTOBER 1, 2019

The government is effectively claiming that it only wants to do business with companies that promptly pay their suppliers, many of which are small businesses that can be destroyed because of the impact of late payment on cash flow. If they are, large suppliers are going to struggle to fund the cash flow hit. Nick Barrett.

Cash Flow 40

Cash Flow Procurement Contract Office 40

Autodesk Construction Cloud

JANUARY 19, 2022

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. This is a trap contractors often fall into.

Cash Flow 59

Cash Flow Management Profitability Change Orders 59

Construction Business Owner

JANUARY 12, 2012

” » The Expensive Process of Bidding. Without spending money bidding projects, you can’t get jobs to make money building them. With more people bidding on fewer jobs, the market is much more competitive. Perhaps the toughest part, though, is that even if you bid a job and don’t win, you still incur costs to compete.

Bidding 149

Bidding Construction Documentation Software 149

Construction Business Owner

OCTOBER 26, 2011

I know a lot of contractors are getting into bidding season, and this got me thinking about communication. I know from my days as a general contractor that plans and specifications are altered continuously as subcontractors become involved, materials are changed, and change orders are issued. And then you wait. Beyond Games.

Construction 159

Construction Software Software Bidding 159

Contractor Bookkeeping

JUNE 17, 2022

In some cases, they can bankrupt your construction company because you bid on the project using whatever model you are accustomed to using, and in the end, you wind up with cash flow problems. The problem is that high-profit jobs can turn into low or no-profit jobs.

Profitability 17

Profitability Cash Flow Bidding Construction 17

Contractor Bookkeeping

NOVEMBER 3, 2012

The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. Residential Remodel Contractor Building A Home.

Profitability 48

Profitability Bankruptcy Contractors Remodeling 48

Contractor Bookkeeping

OCTOBER 18, 2013

There Is A Disturbing Pattern Among Contractors And You Need To Be Aware Of It! The Relationship Between Contractor And Bookkeeper. The Contractor Depends On The Bookkeeper To Know What To Do. What they are not saying in some cases is "And everything I can embezzle , steal and sell online.".

Contractors 48

Contractors Bankruptcy Cash Flow Accounting 48

Pro Builder

NOVEMBER 16, 2022

For buyers entering a new market, the quality of your team is critical to the prospective buyer for its existing relationships with local land sellers, trade contractors, vendors, and regulators. . Typically, these methods triangulate to a valuation range that determines the price a potential buyer is willing to bid.

Inventory 98

Inventory Cash Flow Profitability Deals 98

Autodesk Construction Cloud

FEBRUARY 25, 2022

Evaluating a subcontractor’s health before awarding work has become more important than ever for general contractors. A higher ratio indicates a stronger cash position. . A high value indicates a strong cash position and ability to withstand cash flow constraints. . FINANCIAL RATIOS: LIQUIDITY . Quick Ratio .

Safety 94

Safety Debt Liability Equity 94

Contractor Bookkeeping

AUGUST 25, 2014

There is natural ebb and flow in the business cycle, which in normal times operates, somewhat predictable. Something similar occurred during the period of 1976 to 1980 and suddenly in early 1981 the national and global economy began to turn around and there was a severe shortage of contractors and qualified construction workers.

Contractors 48

Contractors Accounting Profitability Hawaii 48

Contractor Bookkeeping

JUNE 20, 2012

Major Home Builder Actions Signal Profitable Opportunities Ahead For Contractors. It is open to builders, trade contractors, design professionals and anyone who supports and sells to members of the construction industry. If You Are Not A Member - Of Master Builders Association we strongly encourage you to join.

Seattle 51

Seattle Contractors Profitability Metro 51

Contractor Bookkeeping

AUGUST 11, 2014

Recently A General Contractor Who Needed Help Getting Useful Reports Contacted Us. When the contractor asked his in-house bookkeeper to review the QuickBooks company file she did and was emphatic everything was perfect. This One Bookkeeper Error Caused the contractor to OVERPAY HIS ANNUAL INCOME TAX.

Profitability 48

Profitability Contractors Accounting Income 48

Contractor Bookkeeping

JUNE 20, 2013

Let''s Get Some Answers - Contractors and sub-contractors know there is more to profits than what is shown above and most of you rely on your "gut feel" to know when project has made a profit or not. Subcontractors can have a huge negative impact on your QuickBooks For Contractors Job Profitability Reports. Bid Price = $60,000.

Profitability 49

Profitability Income Cash Flow Accounting 49

Contractor Bookkeeping

JUNE 15, 2012

New Contractor's Levels of Stress. You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email sharie@fasteasyaccounting.com.

Contractors 48

Contractors Insurance Claims Lien 48

Constructlaw

SEPTEMBER 10, 2020

For public contractors, as the current backlog of work is burned off, the scarcity of future work can significantly strain cash flow and possibly the viability of the company. It is imperative to remain disciplined in bidding, watch your margins, stay within the geographical footprint and industry sectors.

Industrial 52

Industrial Union Contract Claims 52

Cassell Construction Estimating

JUNE 4, 2009

The trends of the last quarter are continuing – decreasing profit margins, more bidders on every job, and at times companies bidding what appears to be downright foolishly. We have smaller projects going with Martel in Montana and Arita Poulson in Hawaii.

Montana 100

Montana Hawaii Bidding Cash Flow 100

Autodesk Construction Cloud

MARCH 7, 2022

This is especially true for commercial and residential construction sites, where plumbing contractors play an essential role between general and specialty contractors alike. This growth and recent changes in the construction landscape present both challenges and opportunities for plumbing contractors.

Contractors 98

Contractors Innovation Bidding Resource 98

Building Information Management

JANUARY 15, 2016

Experienced owners, contractors, procurement managers, architects, or engineers agree that early and ongoing collaboration among dedicated and experience stakeholders generates the best construction outcomes in terms of quality, timeliness, and maximized return on dollars expended. is simply not doing their job.

Management 40

Management Renovating Cash Flow Life Cycle 40

Levelset

JUNE 16, 2022

A large amount of that funding is going to go directly to individual states, and with the state adopting new laws in 2021 that reconfigure the bidding process — along with adding the “design-build” option to the public construction process — there are plenty of opportunities for contractors across New Jersey.

New Jersey 52

New Jersey Lien Claims Contract 52