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.

Cash Flow 52

Cash Flow Budgeting Budget Forecasting 52

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.

Cash Flow 52

Cash Flow Finance Construction Materials 52

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.

Architecture 52

Architecture Cash Flow Income Lien 52

Levelset

JUNE 6, 2022

According to Mehdian, a lot of contractors don’t record retention receivable or payable, especially those using Quickbooks accounting software. Mehdian recommends companies use software specifically designed to track retention. Mehdian recommends companies use software specifically designed to track retention.

Accounting 98

Accounting ABC Banking Liability 98

Contractor Bookkeeping

JANUARY 2, 2015

Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. All large income and expenses go through one account and keep the debit card in your personal safe. Partnerships Are The Only Ships - Designed to sink.

Construction 48

Construction Insurance Accounting Claims 48

Contractor Bookkeeping

OCTOBER 4, 2013

You do not want the QuickBooks Lite Online Version because you need to see the same QuickBooks software you have on your desktop now. 3 Your Income Tax Return Preparer. You could start with Quicken software and play around with it. Cash flow issues kill contractors even though they have profit.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Levelset

FEBRUARY 14, 2022

Not only does retainage make it harder for a construction business to manage cash flow — simply recording the transaction can be a feat. This is especially true if your accounting software isn’t tailor-made for construction companies (like QuickBooks). Read more: The ultimate guide to construction accounting.

Contractors 52

Contractors Accounting Cash Flow Lien 52