Remove Cash Flow Remove Estimating Remove Overhead Remove Reference
article thumbnail

The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. Estimation tool. What are the overhead costs? Review—call references, research companies, and read reviews. Reconsider the Estimation Process. Document management. Calendars and scheduling. Receive bids.

article thumbnail

The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. Estimation tool. What are the overhead costs? Review—call references, research companies, and read reviews. Reconsider the Estimation Process. Document management. Calendars and scheduling. Receive bids.

professionals

Sign Up for our Newsletter

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

article thumbnail

Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

WIP figures refer to products that are part-way through the production or assembly process. In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Meaning, they’ve likely paid for most of the materials, labor, and overhead a while back. That’s accounting’s job, right?

article thumbnail

Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

WIP figures refer to products that are part-way through the production or assembly process. In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Meaning, they’ve likely paid for most of the materials, labor, and overhead a while back. That’s accounting’s job, right?

article thumbnail

A Practical Guide to Construction Accounting Software

Autodesk Construction Cloud

Sometimes referred to as the “language of business,” accounting personnel document an organization’s accounting activities to accurately measure financial performance. 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.

article thumbnail

Bad Bookkeepers Train Their Boss Like Organ Grinders Train Monkeys!

Contractor Bookkeeping

The bookkeeper remembers a reference book with handwritten notes in the margins left by the previous bad bookkeeper about how unappreciated, overworked and underpaid they felt before taking revenge on the contractor and left the construction company after embezzling a substantial amount of money over a three year period.

article thumbnail

Steps To Obtaining A Surety Bond

Contractor Bookkeeping

Having an established bank line-of-credit generally provides sureties with this comfort; References – Sureties typically want letters of recommendation from subcontractors, owners, architects, and engineers on your completed projects. These schedules will list important financial issues on your bonded projects.