Contractor Bookkeeping

OCTOBER 4, 2013

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Contractor''s Business Round Table Reduces Profits.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Pro Builder

APRIL 19, 2021

The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. Mon, 04/19/2021 - 06:00. 5) Material Planning & Document Management.

Software 52

Software Software Contractors Change Orders 52

Job Order Contracting

DECEMBER 13, 2020

The ability to successfully account for and manage change during a project lies in an organization’s leadership and level of maturity relative to its strategies, processes, goals, and resources. Mature organization don’t react to change, they address change according to their programmatic process. Why Projects Fail.

Project Management 161

Project Management Capterra Organization Management 161

Constructonomics

FEBRUARY 14, 2010

Me neither, until I ran across an article on the New York Times website today whe re an interview was published with the author of, “Profits Aren’t Everything, They’re the Only Thing” and the founder of American Management Services. Or do they? Wherever did he come up with this idea? You have to follow the law.

Profitability 148

Profitability Cash Flow Management New York 148

Construction Business Owner

AUGUST 18, 2011

In a way, a surety bond is like insurance; it is a three-part agreement between the contractor, the organization requiring the bond (e.g. Other common reports bonding agents will look at include income statements, balance sheets, statements of cash flow, and job specific invoice aging reports. So let’s talk bonding. August 2008.

Cash Flow 168

Cash Flow Software Software Accounting 168

Levelset

JUNE 21, 2022

So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow. An HVAC company that’s not managing cash flow is probably doing about as well as an AC unit that isn’t cooling.

Cash Flow 98

Cash Flow Accounting Profitability Residential 98

Contractor Bookkeeping

AUGUST 9, 2012

Like An Organ Grinder Trains A Monkey! Yes, I know that sounds a bit harsh please understand it comes from over thirty years of experience in the construction industry both as a contractor, a construction accountant and a profit and growth coach for a few select construction company owners. Destroy Construction Company Owners Lives!

Organization 48

Organization Contractors Accounting Profitability 48

Construction Business Owner

MAY 31, 2011

ROPE stands for Research, Organize, Plan, and Execute. Organize the research. Our lead analyst organizes information into logical components and processes. Organize the research. Our lead analyst organizes information into logical components and processes. Research to gather information. February 2009. August 2008.

Construction 149

Construction Software Software Accounting 149

Construction Business Owner

FEBRUARY 2, 2012

Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. If leadership success was measured only on profitability, then there were certainly many “great leaders” sitting in the CEO position of many contracting companies. February 2009. January 2009.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

MAY 7, 2012

« Staying Focused in the Fight Against Profit Fade. From applications that make your meetings and webinars more collaborative to document management and social media apps to help you and your team organize, it seems collaboration is everywhere. No matter what industry you’re in, collaboration seems to be the latest “thing.”

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

NOVEMBER 8, 2012

Of Course If Any Or All The Following Apply - To your company then it is not big deal; this isn’t for you: You have lots of money, no cash flow issues, and every one of your clients pay before you even ask. Washington State Resale Certificates - Help contractors increase cash flow. What if you still haven’t billed yet?

Washington 48

Washington Certification Cash Flow Contractors 48

Construction Business Owner

MARCH 11, 2011

Free Webinar on Reducing Profit Fade » Game Changers. ” Recently I watched with the rest of the world as the people of Egypt used social media tools to organize a peaceful revolution that brought down a long reign of Mubarak. « “Stress” tests. February 2009. January 2009. December 2008. November 2008.

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

JUNE 18, 2013

Cash flow issues kill contractors even though they have profit. Poor scheduling affects production and cash flow. Operate in the manner that is their organic, natural instinct (it feels right). Work-In-Progress (WIP) report the ultimate gauge for cash flow and least understood.

Cash Flow 48

Cash Flow Construction Change Orders Contractors 48

Construction Business Owner

MAY 24, 2012

But the point at which the office meets the field – where job progress is tracked, profitability is calculated, invoices and change orders are processed – this is the point where bad (or no) communications between the field and the office results in diminished performance and profits. February 2009. January 2009.

Construction 120

Construction Software Software Iowa 120

Carol Hagen

MAY 30, 2012

The CFMA is a great organization, has local chapters across the country and the members will tell you that “Building Profits” Magazine alone is worth the price of membership. I wrote this in hopes of helping the construction industry become more successful and promoting the importance of networking with your peers.

CFMA 129

CFMA Construction United States Contract 129

Levelset

JULY 22, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing like water down a valley. Here’s a little-known fact about growing a roofing business: It can be incredibly cash-hungry. You need to be a master of your cash flow.

Cash Flow 52

Cash Flow Overhead Accounting Profitability 52

Pro Builder

JUNE 9, 2021

Yet, here we are, with strong sales, great cash flow, abundant profits, and not enough people to build the homes. . Not if You Follow These 8 Steps to Make Trades Profitable. Clean, safe, organized jobsite. Labor Shortage Survey: Who's Leading? Where's the Solution? Labor Woes? 15 Ways to Solve Your Trade Shortage.

Profitability 98

Profitability Remodeling Cash Flow US 98

Levelset

JULY 18, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing through your financial pipes. Here’s a little-known fact about growing a plumbing business: It can be incredibly cash-hungry. Review your cash flow regularly.

Cash Flow 52

Cash Flow Accounting Profitability Legal 52

Levelset

JUNE 21, 2022

So read on to learn about strategies for cash flow, sales, finance, marketing, operations, staff, and leadership. Manage your cash flow as well as you handle air flow. An HVAC company that’s not managing cash flow is probably doing about as well as an AC unit that isn’t cooling.

Cash Flow 52

Cash Flow Contractors Accounting Profitability 52

Levelset

JULY 19, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing as smoothly as your paint. Here’s a little-known fact about growing a painting business: It can be incredibly cash-hungry. Review your cash flow regularly.

Cash Flow 52

Cash Flow Accounting Profitability Residential 52

Levelset

JULY 15, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing like current on a hot line. Here’s a little-known fact about growing an electrical business: It can be incredibly cash-hungry. You need to be a master of your cash flow.

Electrical 52

Electrical Cash Flow Accounting Profitability 52

Contractor Bookkeeping

MAY 30, 2013

Organize them into three simple piles: Simple one-time investments. Discounted cash flows. Step 11 Construction Company - Annual profit as a percentage. Step 12 New Sales - Needed to generate same profit. Increase Sales Or Reduce Costs - The two main drivers of profit. Apply three investment formulas.

Cash Flow 48

Cash Flow Profitability Equipment Estimating 48

Contractor Bookkeeping

MARCH 9, 2013

Keep everything organized and easy to find in filing cabinets, boxes and other storage systems. Organize loose materials. Organize small tools and equipment. Change orders were done but not invoiced and paid which hurts cash flow and profits. Checks start bouncing which adds more fees and hurts cash flow.

Contractors 48

Contractors Cash Flow Banking Change Orders 48

Contractor Bookkeeping

SEPTEMBER 25, 2013

Washington State Resellers Permit saves money and increase cash flow: [link]. Join a Trade Organization, Chamber of Commerce, setup a Facebook page. Making "A Profit" and Having Real "Money Left Over" is how you are able to the things you want to do in life. Be Proactive and market your business. What does that mean?

Contractors 49

Contractors Cash Flow Washington Compensation 49

Building Information Management

JANUARY 15, 2016

Treating your building portfolio as a commodity and outsourcing critical functions is recipe for waste, mismanagement, and negative impacts upon your organizations mission and its building users. Contractors earn a reasonable profit, develop long term relationships with clients, and can better estimate cash flow.

Management 40

Management Renovating Cash Flow Life Cycle 40

Contractor Bookkeeping

JUNE 1, 2013

The First Place to start is an understanding the real profit in any construction is made in the office, not in the field because hard work in the field cannot overcome bad strategy from the office. The Key To Maximizing Profits is finding the right mix of production and resources. Grow By The Inch Is A Cinch, Grow By The Yard Is Hard.

Products 48

Products Profitability Construction Cash Flow 48

Autodesk Construction Cloud

OCTOBER 28, 2021

The “why” behind having good data is clear—making good decisions to empower better project outcomes and profitability. Workflow guidance on flexible budget structures, contract generation for commitments, collaborative change order workflows, and cash flow forecasting. Josh Cheney, Sr. Manager of Strategic Alliances, Autodesk.

Autodesk 52

Autodesk Industrial Construction BIM 52

ProcurementExpress.com

JANUARY 2, 2019

They also serve as a way to check up on the financial health of your organization and ensure that you’re budgeting and forecasting accurately. When the payment hits their account, they may mistake it for profit. In the latter example, there’s a chance that the under-billed amount could turn into a profit loss.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

Construction Business Owner

JUNE 29, 2012

Consider these three vital areas: Construction Project Documents: How do you move documents through your organization? I encourage everyone, no matter what your approach is to communication, to periodically evaluate the way internal and external communications happen. February 2009. January 2009. December 2008. November 2008. October 2008.

Construction 136

Construction Documentation Software Software 136

Construction Cost Estimating

MAY 23, 2012

The users can easily take control of profits as the software contains real time variance & cost ‐ to ‐ complete reporting, cash flow forecasting and profit analysis. “What If” pricing/profit developments for jobs, models, and options derived from real or forecasted costs. Blog Archive.

Estimating 55

Estimating Software Software Sage 55

Construction Business Owner

JUNE 1, 2012

From my own experience running an organization, I’ve found that there are a few fundamental approaches to internal communication and information sharing. A few weeks ago, I discussed how construction management and operations groups need to work with the same information to keep project teams moving in the same direction. February 2009.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

FEBRUARY 2, 2012

Do you have a process for organizing, storing and attaching all supporting documentation for an issue? A lot of contractors track these issues in an Excel spreadsheet, which is great, but takes time and energy to keep current. Do you have a quick way of finding all of your outstanding issues? February 2009. January 2009. December 2008.

Construction 120

Construction Software Software Documentation 120

Construction Business Owner

MARCH 6, 2011

I would challenge you to create simple models that allow you to give your own organization random “stress” tests. I would challenge each of you to examine the basic assumptions that you make about your businesses. Where will you be financially if your revenue dropped 10 percent, 20 percent or 30% percent? February 2009.

Construction 120

Construction Software Software Accounting 120

ProcurementExpress.com

JANUARY 2, 2019

They also serve as a way to check up on the financial health of your organization and ensure that you’re budgeting and forecasting accurately. When the payment hits their account, they may mistake it for profit. In the latter example, there’s a chance that the under-billed amount could turn into a profit loss.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Pro Builder

JUNE 9, 2021

Yet, here we are, with strong sales, great cash flow, abundant profits, and not enough people to build the homes. . It reflects some growing maturity in builders, suppliers, and trades alike, and an increase in their understanding of what’s required to be effective, efficient, and profitable while delivering high-quality homes.

Remodeling 52

Remodeling Cash Flow Profitability US 52

Pro Builder

JUNE 6, 2022

While all of that is good news for home builders, simply ramping up volume and sales isn’t synonymous with increasing net profits. The bottom of the curve consists of the early years, which involve setting up the organization; establishing relationships with banks, trades, and suppliers; and developing a set of standard plans and a land bank.

Management 52

Management Cash Flow Profitability Schedule 52

Construction Business Owner

JANUARY 4, 2011

We needed it to promote the science of building and thinking of buildings as a complex organism, not just a few pieces stuck together. Not to double digit profit growth and sales increases, but to a more sustainable, long term path. We needed this wake up call. I honestly think we are on the downslope to stability now. January 2009.

Construction 120

Construction Software Software US 120