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A Cash Flow Guide for Architects

Levelset

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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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! What Makes Up Your Construction Company Cash Flow?

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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. 5 Immediate increase in cash reserves.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. What is the Point of a Work-in-Progress Schedule?

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10 Contract Terms for Higher Profitability

PSMJ Resources

With government clients, this term can reduce overhead, making your contract price more attractive. Request that the client agree to a simple monthly payment schedule tied to the scope and schedule of work. Shorten the client''s schedule and then work overtime. Include a streamlined form of billing and payment.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. What is the Point of a Work-in-Progress Schedule?

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Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

Maintain a fixed asset list with depreciation schedule. Separate direct and indirect job costs from overhead. Enter Schedule of values for new jobs. Maintain the petty cash journal. Maintain records for changes in estimates, schedule of values and payment terms. Generate Job Cost Reports for the contractor.