Remove Cash Flow Remove Finance Remove IDEA Remove Income
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Four Things To Consider Before Expanding Your Service Offerings

Contractor Bookkeeping

Adding additional services is an excellent way to increase your profitability, diversify your income and expand your market. But there are essential things to consider before adding to your income streams. If your construction business doesn't have a credit history, you may need to look at other options for financing your plans.

Cash Flow 101
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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. Use Financing to Provide a Cushion.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. Use Financing to Provide a Cushion.

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Five Tips To Help Contractors Stop Losing Money On Change Orders

Contractor Bookkeeping

I Have An Idea. 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. Contractors are not bankers, but they seem to finance a lot of extra work using their own credit cards and paying finance and interest charges.

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

ProcurementExpress.com

There’s no one-size-fits-all template for your WIP schedule, but the idea is to highlight details associated with all in-progress jobs. Allowing teams to monitor cash flow, losses, profit fade, or over and underbilling. The app comes with the following options: requester, approver, receiver, project manager, accounts, finance.

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

ProcurementExpress.com

There’s no one-size-fits-all template for your WIP schedule, but the idea is to highlight details associated with all in-progress jobs. Allowing teams to monitor cash flow, losses, profit fade, or over and underbilling. The app comes with the following options: requester, approver, receiver, project manager, accounts, finance.

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Unique Bookkeeper Errors Reduce Contractor Profits

Contractor Bookkeeping

Financial Reports Were Worthless Profit & Loss Reports showed massive income because Cost of Goods Sold (COGS) accounts were understated. This One Bookkeeper Error Caused the contractor to OVERPAY HIS ANNUAL INCOME TAX. No Job Costing Reports Meant he had no idea which, jobs and customers were profitable and which ones were not.