Contractor Bookkeeping

MAY 2, 2013

Part of the root cause can be traced to a mild case of "Stockholm Syndrome" where contractors feel their cash flow may be held captive by their customers or clients. In this case the "Hammer" is a change order. Change orders are the "Hammer" and if you have a signed change order you have the hammer.

Change Orders 48

Change Orders Contractors Cash Flow Profitability 48

Contractor Bookkeeping

MARCH 9, 2013

Tracking change orders in QuickBooks for Contractors for each job. Double checking to make sure the contractor gets paid for all change orders. Maintain a fixed asset list with depreciation schedule. Separate direct and indirect job costs from overhead. Enter Schedule of values for new jobs.

Contractors 48

Contractors Cash Flow Banking Change Orders 48

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. What is the Point of a Work-in-Progress Schedule?

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. What is the Point of a Work-in-Progress Schedule?

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Autodesk Construction Cloud

AUGUST 12, 2021

To make things even more complex, items that you might consider overhead expenses are often actually costs of goods sold because they are connected to a client project. Overhead costs can fluctuate month to month based on workers’ compensation, subcontractors, insurance, training, and more. What to Include in Construction Job Costing.

Accounting 52

Accounting Software Software FASB 52

Contractor Bookkeeping

MARCH 25, 2014

After you have obtained your bond, the surety will likely ask you to prepare quarterly schedules of work in progress. These schedules will list important financial issues on your bonded projects.

Cash Flow 52

Cash Flow Accounting Profitability Work in Progress 52

Construction Cost Estimating

APRIL 25, 2019

As soon as the project is procured, estimate details flow automatically into Sage business management software, removing unnecessary tasks and data entry errors. Sage Estimating also facilitates forecasting the labor, raw material and other overhead costs so that the contractors can arrange & deliver correct bids.

Bidding 40

Bidding Estimating Software Software 40