Levelset
MARCH 21, 2022
To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Poor cash flow management is the number one reason why construction businesses fail. Plan out your cash flow.
Levelset
AUGUST 4, 2022
However, like any other business, you need to maintain positive cash flow or you may find yourself unable to pay your workers and other expenses. Let’s take a look at the basics of cash flow and how architects can budget their expenses and forecast their income to stay in good financial standing.
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Levelset
APRIL 5, 2022
Bigger projects require more materials and more labor, which means higher cash requirements. Contractors can take on more work than their cash flow will let them perform, leaving them scrambling for cash to pay their bills or their employees. But what about cash flow? Forecast cash flow.
Levelset
AUGUST 5, 2022
Pay close attention to cash flow. Architects live or die by their ability to manage cash flow — it’s the primary reason why businesses in the construction industry fail. Architectural firms need to monitor the cash coming in and going out of the business to ensure they have enough on hand to cover critical expenses.
Levelset
MAY 2, 2022
Contractors trying to grow their business and take on larger projects often struggle to manage their cash flow to purchase the materials they need. Many contractors use trade credit to delay paying for materials and keep more cash in their pockets. Provide a plan. Get more trade preferences.
Levelset
JUNE 6, 2022
The invoice is recorded in the chart of accounts with a credit to the income account for $100,000, a debit of $90,000 to accounts receivable, and a debit of $10,000 to retention receivable. Debit Credit Income $100,000 Accounts receivable $90,000 Retention receivable $10,000.
Contractor Bookkeeping
JUNE 18, 2013
Cash flow issues kill contractors even though they have profit. Sales tax liens against contractors twenty two times higher than any other business. Sales tax liens against contractors twenty two times higher than any other business. Poor scheduling affects production and cash flow.
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