Contractor Bookkeeping
OCTOBER 16, 2020
Proactive is scheduling and doing everything ahead of time. Those of you who want a predictable environment are employees working for a large employer where schedules are fixed, and they are doing the same things every day. Proactive versus reactive are the two methods of getting something done.
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 basics.
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Levelset
APRIL 7, 2022
Shady, fly-by-night contractors will promise customers the world — and they hide the fact that they can put a lien on the owner’s home. They’ll collect a few checks, perform shoddy work, and then file a lien when the customer doesn’t pay. It’s also important to educate your customer about mechanics liens. Be responsive.
Levelset
APRIL 1, 2022
Schedule delays. Schedule delays are some of the most damaging effects of construction site theft. Restricted cash flow. In the meantime, they extended themselves on the replacement item, and they’re out that cash. Learn more about cash flow in construction. Higher costs. How to prevent jobsite theft.
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.
Contractor Bookkeeping
MARCH 9, 2013
Sending the Notice to Owner of Intent To Lien to protect my financial interests. Maintain a fixed asset list with depreciation schedule. Enter Schedule of values for new jobs. Maintain the petty cash journal. Maintain records for changes in estimates, schedule of values and payment terms.
Contractor Bookkeeping
JUNE 20, 2014
Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. Flexible because you can allocate resources as need and scheduling is in your direct control. The completion schedule is too short and exposes you to monetary damages for failure to finish on time.
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