Five Basic Construction Accounting Tasks To Complete Every Month

Contractor Bookkeeping

Everything starts with cash because "cash is fact, profit is an opinion." These tasks form the solid foundation of your small business. Construction Cash Flow Increase Profits Increase Cash Flow Contractor Sucess Contractor Tips Contractor Operating TipsProper construction accounting is all about the details. The answers you need to operate and grow your company are in reports.

Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Cash flow is the lifeblood of any construction company and especially the ones with annual sales volume under $1,000,000. Some construction Company experts even say that a healthy cash flow is more important than your contracting company''s ability to complete projects! If you do not have enough cash reserves to pay your suppliers, creditors, and make payroll, then your Construction Company is out of business, game over! Cash is king!

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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

In the meantime, service agreement customers are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary. Keep The Service Agreement Cash Separate. One of the best parts is you have an immediate increase in cash flow. Successful contractors put the cash in another interest bearing bank account and do not transfer any of it until the work is performed. 5 Immediate increase in cash reserves.

Julian Construction Makes It Easy To Finance Your Foundation Repair

Julian Construction

Foundation Repair. Foundation Replacement. Why Do Foundations Sink? Julian Construction Makes It Easy To Finance Your Foundation Repair. Southern California Company Offers 0% Interest Financing on Foundation Repair Projects LOS ANGELES, CA: Julian Construction Inc. ( [link] ), a foundation repair , foundation construction and general construction company located in Southern California, is now offering 0% financing and several other financing options to homeowners.

Ask These Five Questions When Financing Your Equipment and Software

Construction Business Owner

Many contractors, both small and large, finance their equipment and software rather than purchase with a lump sum payment because of the cash flow benefits this practice can bring to their businesses. Gross Domestic Product and the Equipment Leasing and Finance Foundation, $0.56 In fact, according to the 2013 Bureau of Economic Analysis measurement of U.S. of every dollar spent on equipment and software in the U.S. was financed. That’s $827 billion in 2013

Ask These Five Questions When Financing Your Equipment and Software

Construction Business Owner

Many contractors, both small and large, finance their equipment and software rather than purchase with a lump sum payment because of the cash flow benefits this practice can bring to their businesses. Gross Domestic Product and the Equipment Leasing and Finance Foundation, $0.56 In fact, according to the 2013 Bureau of Economic Analysis measurement of U.S. of every dollar spent on equipment and software in the U.S. was financed. That’s $827 billion in 2013

New Partnership Encourages Private Investment In Natural Infrastructure

Buisness Facilities Contributed Content

The report , which was developed in collaboration with the Philadelphia Water Department (PWD) and funded by the Rockefeller Foundation, focuses on Philadelphia’s innovative Green City, Clean Waters program as a model for stimulating investment in natural infrastructure. Governments across the country must find new and innovative ways to build infrastructure that is resilient to nature’s shocks and stresses, said Dr. Judith Rodin, president of The Rockefeller Foundation.

Construction Company Failure Root Causes

Contractor Bookkeeping

Education is the foundation for shifting paradigm. Cash flow issues kill contractors even though they have profit. Poor scheduling affects production and cash flow. Work-In-Progress (WIP) report the ultimate gauge for cash flow and least understood. Every contractor with cash flow problems works too hard, has too many clients and sells to much. The Contractor Paradigm.

Construction Business Owner Blogs

Construction Business Owner

There’s a lot I could say here, but mostly, I just want to wish everyone a very Merry Christmas and a Happy New Year from everyone at Foundation Software. cash flow. foundation. foundation software. Tags: accounting , Christmas , construction , Construction Accounting Software , foundation , foundation software , job costing. HOME |. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. LAW |. INSURANCE |. EQUIPMENT |. FLEET |. SAFETY |.

Construction Business Owner Blogs

Construction Business Owner

While there are numerous reasons to change software applications, there are two that regularly come up in our discussions with prospective clients: cash flow control and project cost control. Back to Cash Flow. A few months ago, I discussed cash flow and how poorly managed jobs, floating funds between jobs, and letting cash flow get out of hand can quickly lead a construction company out of business. cash flow. foundation.

New Partnership Releases Guide To Stimulate Private Investment In Natural Infrastructure

Buisness Facilities Contributed Content

The new report, which was developed in collaboration with the Philadelphia Water Department (PWD) and funded by the Rockefeller Foundation, focuses on Philadelphia’s innovative Green City, Clean Waters program as a model for stimulating investment in natural infrastructure. Governments across the country must find new and innovative ways to build infrastructure that is resilient to nature’s shocks and stresses, said Dr. Judith Rodin, president of The Rockefeller Foundation.

The Interconnected Construction Organization — Part 2: The Benefits of Integrated Construction Software in the Cloud

Viewpoint Construction Technology

New capabilities like in-depth business intelligence and intuitive web applications that streamline work at the jobsite are powered by a cloud-based technology foundation that allows contractors to scale their operations today and tomorrow. Finance and Accounting: ViewpointOne streamlines and simplifies payroll, billing and vendor payment process while offering in-depth cash flow tracking and project reporting.

Study Illustrates The Economic And Commercial Power Of Investing In Energy Efficient Buildings

Buisness Facilities Contributed Content

And federal, state and local governments in budget-constrained times would save more than $8 billion annually, equivalent to funding the National Science Foundation or nearly all of the annual budget for the U.S. Now building efficiency is a pivotal investment strategy to free an estimated $65 billion in annual cash flow for households, businesses and governments across the country,” said John Mandyck, chief sustainability officer, UTC Climate, Controls & Security.

Process Dependent Vs. People Dependent Increases Contractor's Profits

Contractor Bookkeeping

If your construction company depends on repeatable processes you are in for a long, boring, predictable ride on the Cash-Cow-Merry-Go-Round and that is a lot of fun! To Generate Enough Cash To Pay For All Those Nice Things. Education is the foundation for shifting paradigm. Cash flow issues kill contractors even though they have profit. Poor scheduling affects production and cash flow. Money Is The Main Reason You Own And Operate.

Rory Woolsey's Construction Estimating Blog: Losing Your Shirt.

Rory Woolsey

Knowing where the key project metrics such as time , costs, resources , and cash flow are relative to a datum (the project plan). A poor plan for time, costs, resources and cash flow is sometimes worse than no plan. Poorly planned projects are often found spiraling downward into a reactive mode which will just add to the lost time, increased costs, inefficient implementation of resources and negative cash flow. Rory Woolseys Construction Estimating Blog.

Latest Trend, Bookkeeper Works For Contractor That Goes Bankrupt

Contractor Bookkeeping

If your bookkeeper is an employee and they have no equity interest in your company they do not have the same concern about your construction company''s cash flow and bottom line profit that you do because when it fails they can blame you for "Not knowing how to run a business" and go wreak havoc elsewhere. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve

Construction Business Owner Blogs

Construction Business Owner

Job Cost & Cash Flow. So it makes sense that any software you consider should offer comprehensive job cost and cash flow solutions. cash flow. foundation. foundation software. Tags: cash flow , Construction Software , document management , job cost , reporting. HOME |. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. LAW |. INSURANCE |. EQUIPMENT |. FLEET |. SAFETY |. GREEN. Topics. General Management.

How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. These costs arrive in the form of dry rot, cracked foundations, broken plumbing, bad wiring, worn out HVAC and other unpleasant surprises.

Small And Micro Construction Companies Have Unique Bookkeeping Needs

Contractor Bookkeeping

QuickBooks Setup - And choosing the correct QuickBooks Version is the most critical part of all because it is the foundation upon which your entire financial system is built. Put the wrong foundation under your business and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you really need in order to operate and grow your business profitably. Small And Micro Construction Companies Have Unique Bookkeeping Needs.

Do Contractors Need Every QuickBooks Feature?

Contractor Bookkeeping

The First Two Profit & Loss Reports Show Accrual Basis Vs. Cash Basis. Cash Basis is generally for external use for calculating and paying taxes. We agree with half of that statement; contractors need to pay their fair share of taxes but not until they absolutely have too for two reasons: #1 Paying bills early hurts cash flow. #2 The Next Two Profit & Loss Reports Show Accrual Vs. Cash And % of Income.

Construction Business Owner Blogs

Construction Business Owner

In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs. cash flow. foundation. foundation software. HOME |. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. LAW |. INSURANCE |. EQUIPMENT |. FLEET |. SAFETY |. GREEN. Topics. General Management. Software & Technology. Accounting & Finance. Insurance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations.

Bill.Com Setup For The Unique Needs Of Construction Contractors

Contractor Bookkeeping

In the end we believe Bill.Com is still a worthwhile investment because of the time savings and increased cash flow.). Profitable Construction - Companies have known about the value of online invoicing and bill payment to help increase their cash flow and profitability and now you know about it too! Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve.

Five Tips To Help Contractors Stop Losing Money On Change Orders

Contractor Bookkeeping

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. You do what you promise and they will pay you, no questions asked and they are the foundation for high profit repeat customers. Hint: if you do not have enough cash flow to pay off your credit cards every month chances are you are acting as your customer''s lending institution or their sugar daddy!

Obtaining the Proper Bonding for Government Jobs

Construction Business Owner

Other common reports bonding agents will look at include income statements, balance sheets, statements of cash flow, and job specific invoice aging reports. cash flow. foundation. foundation software. Tags: bonding , davis-bacon , foundation software , government work , over/under billing , prevailing wage. HOME |. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. LAW |. INSURANCE |. EQUIPMENT |. FLEET |. SAFETY |. GREEN. Topics.

QuickBooks Contractor Unique Payment Application Issues Solved

Contractor Bookkeeping

All construction problems are related to cash flow or communication. As soon as I need money I will ask for it - See Cash Flow Diagram. I have a little cash in savings I can use for a while. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Payment Applications For Residential Remodel & Commercial Tenant Improvement Contractors. Simple Invoice.

Unique QuickBooks Reports For Operating Your Construction Company

Contractor Bookkeeping

03 Job Costing Reports like Profit & Loss By Job, Job Profitability and Estimates Vs. Actual Reports provide you with the foundation reports that can help you understand where you construction company is making an losing money. If you will review these Five Reports at Five O''clock (or whatever time is best for you) for Five Minutes and do it every day in 90 days or less you could see a dramatic improvement in your bottom line profits and cash flow.

Free Customizable Construction Accident Prevention Programs

Contractor Bookkeeping

And we go over and over how the foundation of a successful construction company is good solid financial reports. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. There Are Three Links With FREE Downloads. No Form To Fill Out - Just Click And Go! They are all from the Washington State Department of Labor & Industries website.

Three Unique Marginal Costs Grow Construction Profitability

Contractor Bookkeeping

This one thing can have a massive impact on cash flow and profits. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Three Simple Yet Powerful Action Steps You. Can Take To Amplify Success In Your. Construction Company. Cost Is What You See - Profit potential is what you don''t see.

Spec Home Builders Have Unique Bookkeeping Needs

Contractor Bookkeeping

QuickBooks Setup - And choosing the correct QuickBooks Version is the most critical part of all because it is the foundation upon which your entire financial system is built. Put the wrong foundation under your business and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you really need in order to operate and grow your business profitably.

Commercial Tenant Improvement Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

QuickBooks Setup - And choosing the correct QuickBooks Version is the most critical part of all because it is the foundation upon which your entire financial system is built. Put the wrong foundation under your business and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you really need in order to operate and grow your business profitably.

Unique QuickBooks For Contractors Profit Secrets Revealed Part One

Contractor Bookkeeping

Wealthy contractors have a secret system that shows them what to do, when to do it, how much it will cost, how long it will take to be paid back, the Return on Investment and they use the new cash flow and profits to do it over and over and get richer and richer! Marketing Is The Foundation - Because nothing happens until somebody buys something. What Does A Country Smaller Than The State Of Montana. Have In Common With S uccessful Contractors?

Fast Easy Accounting Overview What We Do For Contractors

Contractor Bookkeeping

We show you how to remove unique cash flow bottlenecks which are common in contractors bookkeeping, that results in more money in the bank, reduced overhead and lowers their stress level. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Can You Relate To This? We Are Construction Accountants.

Construction Business Owner Blogs

Construction Business Owner

Collaborating on Cash flow » The Year of Mobile Technology? cash flow. foundation. foundation software. Tags: accounting software , construction , Foundation mobile , mobile devices , payroll , project management , remote timecard entry. HOME |. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. LAW |. INSURANCE |. EQUIPMENT |. FLEET |. SAFETY |. GREEN. Topics. General Management. Software & Technology. Accounting & Finance.

Contractor Sucess M.A.P. Podcast

Contractor Bookkeeping

Can Help You Overcome the challenges of Marketing, Accounting and Production by focusing on the keys to unlock your contracting company natural inclination to generate consistently high cash flow and profits. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Contractors Success M.A.P. Podcast Is Live. On iTunes And All Major Podcast Outlets.

We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24%. Payment Terms - Should need to add positive cash flow.

Unique QuickBooks For Contractors Profit Secrets Revealed Part Two

Contractor Bookkeeping

Wealthy contractors have a secret system that shows them what to do, when to do it, how much it will cost, how long it will take to be paid back, the Return on Investment and they use the new cash flow and profits to do it over and over and get richer and richer! Marketing Is The Foundation - Because nothing happens until somebody buys something. What Does A Country Smaller Than The State Of Montana. Have In Common With S uccessful Contractors?

Home Builders Who Need To Keep Track Of Specialty Contractor Costs

Contractor Bookkeeping

QuickBooks Setup - And choosing the correct QuickBooks Version is the most critical part of all because it is the foundation upon which your entire financial system is built. Put the wrong construction accounting foundation under your business and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you really need in order to operate and grow your business profitably. Construction Accounting Services For Home Builders.

Construction Business Owner Blogs

Construction Business Owner

« Collaborating on Cash flow. cash flow. foundation. foundation software. HOME |. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. LAW |. INSURANCE |. EQUIPMENT |. FLEET |. SAFETY |. GREEN. Topics. General Management. Software & Technology. Accounting & Finance. Insurance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing. Security. Equipment Management. Resource Center.

Construction Business Owner Blogs

Construction Business Owner

Lines of credit are meant to be a short-term cash solution while you’re waiting for accounts receivable to come in. When you approach your chosen lender(s), be open about your financial situation, including any typically slow work and cash-flow periods. Many contractors negotiate payment due dates with their vendors to get themselves out of short-term cash binds. cash flow. foundation. foundation software. HOME |. STRATEGY |. MANAGEMENT |.

Construction Processes To Reduce Injuries And Increase Production

Contractor Bookkeeping

Parts of the foundation and supporting beams and columns needed massive repairs. This means they increased profits and cash flow by making or saving money. Don''t Let Them Think! They Will Injure Themselves! Apprentices and most Journeymen working on a construction job site are better off not thinking but simply following routines and patterns established by management based upon best practices.