Contractor Bookkeeping

AUGUST 11, 2014

The banker said his Profit & Loss, Balance Sheet did not look right to him. His banker was a blunt and told him that if he wanted to stay in the construction business he needed to have accurate Profit & Loss, Balance Sheet and Job Costing Reports. QuickBooks Job Profitability Reports. He had to rely on his gut feeling.

Profitability 48

Profitability Contractors Accounting Income 48

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. government-funded projects), and the surety company. government-funded projects), and the surety company.

Cash Flow 168

Cash Flow Software Software Accounting 168

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. Properly manage change orders.

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. Document Management. Reduce Bidding Costs. “How good do you want to be?”

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. Rarely does a finished project exactly mirror the original plans. If you’re a general contractor, you may send out an invitation to bid via email, fax, online notifications, etc. construction management. Management.

Construction 159

Construction Software Software Bidding 159

ProcurementExpress.com

FEBRUARY 11, 2019

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. You’re dealing with subcontractors, labor shortages, sourcing, and multiple projects on multiple deadlines. Project Management. Document management. Click To Tweet. Estimation tool.

Procurement 63

Procurement Plans Construction Budgeting 63

Construction Business Owner

JANUARY 5, 2012

Evaluate Bidding Strategy. There are fewer projects to bid and what projects are available are being bid by more people. Consequently, the bidding climate is very competitive with some work going to people bidding below cost. Project Team Communication & Effectiveness. It’s tough out there.

Construction 120

Construction Bidding Software Software 120

ProcurementExpress.com

FEBRUARY 11, 2019

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. You’re dealing with subcontractors, labor shortages, sourcing, and multiple projects on multiple deadlines. Project Management. Document management. ” username=””]. Estimation tool.

Procurement 52

Procurement Plans Construction Budgeting 52

Construction Business Owner

JANUARY 5, 2012

I started thinking about how business owners can better manage their companies, and so I created my own short list of New Year’s resolutions for better construction management. It’s often easy to bid on a job, start work, and miscalculate how far along in the project you are versus the amount of money you’ve spent.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

OCTOBER 14, 2011

But I have been surprised at the number of contractors who tell me that they have bid for jobs at break-even or at a loss. ” Every construction project is a gamble – you’re betting that your estimate is accurate, that labor and material prices don’t go through the roof, etc. Yes, change orders are nearly inevitable.

Change Orders 120

Change Orders Construction Software Software 120

Contractor Bookkeeping

OCTOBER 18, 2013

If your bookkeeper is an employee and they have no equity interest in your company they do not have the same concern about your construction company''s cash flow and bottom line profit that you do because when it fails they can blame you for "Not knowing how to run a business" and go wreak havoc elsewhere.

Contractors 48

Contractors Bankruptcy Cash Flow Accounting 48

Construction Business Owner

APRIL 2, 2011

« Free Webinar on Reducing Profit Fade. For those of you contractors doing government work: relish the competition involved with bidding. Committing Intentional Project Communications. Better Project Management through Better Communication. construction management. construction management software.

Construction 159

Construction Software Software Accounting 159

Construction Business Owner

DECEMBER 9, 2011

Some project managers tend to think of safety in the workplace as one of those things that we do “when we get a chance.” In fact, project managers should worry about implementing more safe practices because it can affect the way they bid on jobs. Committing Intentional Project Communications. Management.

Construction 136

Construction Insurance Software Software 136

Construction Business Owner

NOVEMBER 3, 2011

Gregg is a consultant with FMI and specializes in the areas of productivity and project management. In addition to providing critical insight to a bid, tender or proposal, the theoretical “buy-in” to the process from the field manager is invaluable. Committing Intentional Project Communications. Management.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JANUARY 12, 2012

The Expensive Process of Bidding » Save Time, Resources – File Electronically. Committing Intentional Project Communications. Better Project Management through Better Communication. construction management. construction management software. document management. Management. February 2009.

Construction 136

Construction Software Software Accounting 136

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’re hearing from several customers who’d fallen behind on their housekeeping, too busy last year with all hands on deck just to run their projects.

Montana 100

Montana Hawaii Bidding Cash Flow 100

Contractor Bookkeeping

JULY 27, 2012

Assets of Company - Cash / Receivables – Payables / Trucks / Tools / Equipment / Material. Assets of Firm - Cash / Business Process / Sales Process / Client List / Predictable Cash Flow. BCG Matrix - Graphical representation of Cash Cows / Rising Stars / Question Marks / Dogs.

Contractors 63

Contractors Cash Flow Construction Accounting 63

Construction Business Owner

FEBRUARY 2, 2012

Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. leadership decisions were relatively easy – who to hire, where to grow, which jobs to bid and how much margin to put on them. Committing Intentional Project Communications. document management.

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

NOVEMBER 18, 2013

A lot of our contractor clients have needed an Accident Prevention Program to include with their bid submittal package and some of them have found this resource useful. There are an infinite number of reasons why most construction companies do not generate a minimum 20% net profit and a six figure after tax income for the owners.

Accidents 48

Accidents Accounting Construction Profitability 48

Construction Business Owner

JANUARY 26, 2012

Venture helps you manage your contacts using construction specific criteria, invite potential partners to bid on work, and even prequalify subcontractors, so you create the best team for the job. Project Communication. Committing Intentional Project Communications. Better Project Management through Better Communication.

Construction 120

Construction Software Software Documentation 120

Construction Business Owner

JANUARY 13, 2012

« The Expensive Process of Bidding. ” The owner of our company conducts quarterly meetings with the entire Cahaba Media staff where he and each of the managers have an opportunity to give everyone in the company an update on each area of the business. Committing Intentional Project Communications. Management.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 17, 2011

With the number of companies bidding on each job increasing and the margins getting smaller, it is imperative that you know the true health of you fleet. This in turn lets the estimators use equipment rates that are spot on when estimating forthcoming work, which helps to get new work, and bring that work in profitably. Management.

Construction 136

Construction Software Software Equipment 136

Contractor Bookkeeping

AUGUST 25, 2014

In normal times, contractors who pay close attention to their Five Key Performance Indicators financial reports and stay aware of the macro global economy and the micro local economy can plan ahead and earn a normal profit after paying the owners a reasonable salary. Pent Up Demand #01 - Deferred maintenance.

Contractors 48

Contractors Accounting Profitability Hawaii 48

Construction Business Owner

APRIL 12, 2012

Good document management software will be able to keep those certifications on file. A prequalification program that tracks vendors certification, will also help you when it’s time to start bidding on projects. Committing Intentional Project Communications. Better Project Management through Better Communication.

Construction 120

Construction Certification Green Software 120

Construction Business Owner

APRIL 4, 2011

– will ultimately determine if you are on the bid list or in the negotiating room for the next project. Committing Intentional Project Communications. Better Project Management through Better Communication. construction management. construction management software. document management.

Construction 120

Construction Software Software Accounting 120

Rory Woolsey

FEBRUARY 28, 2012

Knowing where the key project metrics such as time , costs, resources , and cash flow are relative to a datum (the project plan). Good project managers will always know where these project metrics are because they are indicative of the immediate health of the project. Good planning matters!!

Estimating 40

Estimating Cash Flow Budgeting Budget 40

Autodesk Construction Cloud

JANUARY 6, 2022

The benefits of collaboration may include fewer changes and rework, a higher likelihood of an on-time delivery, higher profits, fewer wasted materials, and other important positives. Team members are frequently more interested in meeting short-term individual goals, rather than the project’s long-term end goal. Higher profits.

Construction 52

Construction Estimating Design Budgeting 52

Contractor Bookkeeping

JANUARY 2, 2015

The idea was you would do all the work they would get half the profits and you politely refused, or not? Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. 20% Of The Contractors Earn And Keep 80% Of The Profits.

Construction 48

Construction Insurance Accounting Claims 48

Contractor Bookkeeping

JUNE 20, 2014

You do all the work they get half the profits and you politely refuse. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. You bid on a project and you are the low bidder. This is getting very stressful. It is a must have to borrow money from a bank.

Insurance 48

Insurance Construction Accounting Claims 48

Autodesk Construction Cloud

SEPTEMBER 1, 2022

Knowing which contract to use when is critical to ensuring a successful outcome in delivery, customer satisfaction, and profit. Knowing which general construction contract to use and when to use one is vital to a successful project, your customers’ satisfaction, and your profits. Plus, you know you’ll incur a profit.

Contract 98

Contract Maine Construction Agreement 98

Autodesk Construction Cloud

DECEMBER 2, 2021

One of the most important efficiencies you can create to best position yourself for good project outcomes is fine-tuning your cost management process. This can affect everything from the bidding process to change order management, your team’s efficiency, and ultimately, your bottom line. DOWNLOAD NOW.

Management 52

Management Change Orders Construction Budgeting 52

Autodesk Construction Cloud

FEBRUARY 1, 2022

Poor quality construction can have a negative impact on the ability to close out a project. Up to 60% of general contractors say it has a high or very high negative impact on profitability. Moreover, nearly 60% say this has a “high” to “very high” negative impact on their profitability. How to Improve Quality in Construction.

Management 97

Management Construction Risk Documentation 97

Autodesk Construction Cloud

JUNE 10, 2022

It’s obvious how this applies to construction, where tracking tasks and managing documents is a considerable part of the overall process, from preconstruction through closeout. Since there are so many teams involved in this stage, the problem is rampant in many projects. Submittals.

Construction 52

Construction Management BIM Project Management 52

Autodesk Construction Cloud

JANUARY 31, 2022

AEC firms should be ready to position themselves as leaders in using technology to meet the legislation’s goals when bidding for projects that will define the next generation of U.S. Ann Blanchard, Senior Client Project Manager, Arcadis. ” – Ann Blanchard , Senior Client Project Manager, Arcadis.

Construction 97

Construction Autodesk BIM Modeling 97