Contractor Bookkeeping Vs. Regular Bookkeeping
Contractor Bookkeeping
JUNE 18, 2012
Assets - Liabilities) = Equity. Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular bookkeeping are actually Cost of Goods Sold in construction accounting. In this case some overhead costs were classified as direct costs and assigned to the job.
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