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

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 150

Bidding Construction Documentation Software 150

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. document management. foundation.

Construction 160

Construction Software Software Bidding 160

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. document management.

Construction 120

Construction Bidding Software Software 120

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 169

Cash Flow Software Software Accounting 169

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

Job Order Contracting

JANUARY 10, 2021

Profitable partnering for LC. Engineering, Construction and Architectural Management, 8 (4,), 292-303. Engineering, Construction and Architectural Management, 8 (4,), 292-303. Application of lean principles and theory of constraints in project management. The Foundations of lean construction. Bramble, B.

Construction 164

Construction Procurement Contract Management 164

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. document management. foundation. foundation software.

Construction 160

Construction Software Software Accounting 160

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. foundation.

Construction 137

Construction Insurance Software Software 137

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. foundation.

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. document management. foundation. foundation software. Management. project collaboration. government.

Construction 137

Construction Software Software Accounting 137

Construction Cost Estimating

NOVEMBER 16, 2014

Generally the GC manages the complete project but he/she can also perform with a particular section ranging from the foundation or masonry. On the basis of design suggested by the client, the GC generally works on a bid process. Profit can be gained if the GC is capable of executing the project lower than the bid price.

Management 45

Management Contract Construction Bidding 45

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

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. foundation.

Construction 137

Construction Software Software Equipment 137

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

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. foundation.

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

FEBRUARY 5, 2014

Their primary function is to review the transactions, reclassify some of them as needed and prepare payroll, monthly tax returns, quarterly tax returns, basic Profit & Loss Reports and Balance Sheet Reports. Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Regular Accounting.

Accounting 48

Accounting Construction Profitability Contractors 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

Contractor Bookkeeping

SEPTEMBER 20, 2013

QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales. Profit & Loss statement anytime YOU want it! Profit And Loss Report.

Contractors 48

Contractors Accounting Profitability Overhead 48

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.

Contractors 48

Contractors Accounting Hawaii Profitability 48

Contractor Bookkeeping

JANUARY 13, 2014

Lately a lot of contractors like you are discovering the need to get better financial and job costing reporting from their accounting software in order to stay competitive and know in advance which jobs to bid on that have a history of making your construction company a reasonable profit and which ones to ignore.

Contractors 61

Contractors Accounting Project Management Profitability 61

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. document management. foundation. foundation software. Management.

Construction 120

Construction Software Software Accounting 120

Autodesk Construction Cloud

FEBRUARY 1, 2022

While a project’s ultimate goal is a successful completion, the steps it takes to get there are critical to profits and project’s life cycle. That’s why choosing the right project delivery method is an important first step before construction begins. Each type of project delivery method has its own benefits and drawbacks.

Risk 52

Risk Schedule Design Budgeting 52

Pro Builder

DECEMBER 15, 2021

Ivory knew the big-picture problem was way over the head of one person or company to achieve a widespread, lasting impact; it called for an army to navigate the maze of barriers that hinder entry-level homes from penciling out on a profit and loss report and gaining community support. It doesn’t always have to be a high-rise apartment.”.

Innovation 122

Innovation Utah Housing Products 122

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

Autodesk Construction Cloud

APRIL 25, 2023

Rob has adopted a forward-thinking mindset throughout the decades he’s spent in the construction industry, and he truly knows how to set a solid foundation that sets teams up for the coming years. I was the customer for about 12 years, starting in project management and ending as a vice president.

Autodesk 52

Autodesk Indiana Software Software 52

Contractor Bookkeeping

AUGUST 27, 2014

Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. Which QuickBooks Reports Will Help You Increase Sales And Profits? Of course you are!

Contractors 89

Contractors Accounting Work in Progress Profitability 89

Rory Woolsey

MARCH 20, 2012

The estimating process begins with a thorough understanding (and visualization) of the projects scope of work. Successful "hard bid" contractors know very well that scoping construction goes well beyond the AE scope and must include field specific scope. Typically the published unit costs do not include all the above.

Estimating 40

Estimating Construction Overhead Structural Engineering 40

Contractor Bookkeeping

OCTOBER 3, 2014

I say that with all due respect to egg heads since I am an egg-head with several degrees and certifications in Accounting, Construction Accounting and Project Management. Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience.

Accounting 48

Accounting Construction Banking Contractors 48

Autodesk Construction Cloud

FEBRUARY 7, 2022

Construction projects benefit from maximizing efficiency. To generate profits in an industry known for razor-thin margins, firms need to maintain control over cost and schedule at every phase of construction. It’s easy to lose important documents and updates in email, especially when working on large-scale projects. .

Software 95

Software Software Construction Bidding 95

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. Enough said! construction consultants.

Estimating 40

Estimating Cash Flow Budgeting Budget 40

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

Building Information Management

JUNE 8, 2015

BIM (Building Information Modeling), cloud computing, and social media are disruptive technologies which are altering the basic foundations of the AECOO sector (Architecture, Engineering, Construction, Owners, and Operations). altering the basic foundations of the AECOO sector (Architecture, Engineering, Construction, Owners, and.

BIM 40

BIM Life Cycle Contract Environment 40