article thumbnail

What is Project Loss Insurance?

Levelset

When a loss occurs, it can put a real crunch on a contractor’s cash flow. It also helps contractors manage cash flow during a loss. How project loss insurance works. A contractor applies for a PLI policy and provides financial statements and work in progress reports. Project loss insurance coverage.

article thumbnail

Process Dependent Vs. People Dependent Increases Contractor's Profits

Contractor Bookkeeping

To make matters worse there are a never ending parade of consults and hucksters ready to solve all your problems and make everything right as if by magic; and you know that''s not going to happen! Construction Company Failure Root Causes: Working for customers instead of clients and not charging enough (The 80-20 Rule).

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Unique Contractor Bookkeeper Ride Along To Increase Company Profits

Contractor Bookkeeping

What we can share is something that has been going on for hundreds if not thousands of years and is so simple that it hurts me to know that most contractors who need more cash flow and profit will do it and contractors who don''t need more cash and profits do it regularly. Work-In-Progress (W.I.P.). Job Scheduling.

article thumbnail

Making Your Marketing Dollars Disappear Is Easier Than You Think

Contractor Bookkeeping

How can we be of help with accounting, bookkeeping or consulting? Step 2: One hour FREE Consultation. Is your #1 Favorite Customer adding or taking away profits and cash flow? Consulting is adding the processes, strategic analysis and ongoing client support to grow your construction company. Your Answer: 3.

article thumbnail

You Have HUD-1 Statements And Your Bank Wants Financial Statements

Contractor Bookkeeping

You Need To Track Job Deposits - Customer down payments can be input many different ways and there is one method that works best and helps you manage cash flow and it can save you money on taxes. Work In Progress (WIP) Reporting. Job Deposit Tracking. Quarterly Tax Returns. Sales Tax Returns. Payroll Processing.

Banking 48
article thumbnail

Home Builders Who Need To Keep Track Of Specialty Contractor Costs

Contractor Bookkeeping

Spec Home Builders - Who also do some remodel work, buy houses for rental inventory and buy houses to fix up and sell, house flippers, create special problems for regular bookkeepers. Work In Progress (WIP) Reporting. We know what to do! Job Deposit Tracking. Quarterly Tax Returns. Sales Tax Returns. Payroll Processing.

article thumbnail

Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit. Poor scheduling affects production and cash flow.