article thumbnail

Five Tips To Help Contractors Stop Losing Money On Change Orders

Contractor Bookkeeping

In this case the "Hammer" is a change order. You do what you promise and they will pay you, no questions asked and they are the foundation for high profit repeat customers. 15% of your customers will try to get a bargain.little extras, minor changes. No law says there has to be change orders.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

Some Advice on Change Orders » A Change (Order) for the Better? When clients ask me about change orders, I’m reminded of a well-circulated photo. The yacht is named “Change Order.” Discussion about change order difficulties tends to be one of two types.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CULTURE, TECHNOLOGY/SOCIAL MEDIA, & BIM

Building Information Management

BIM (Building Information Modeling), cloud computing, and social media are disruptive technologies which are altering the basic foundations of the AECOO sector (Architecture, Engineering, Construction, Owners, and Operations). altering the basic foundations of the AECOO sector (Architecture, Engineering, Construction, Owners, and.

BIM 40
article thumbnail

Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

Did change order work that you never got paid for doing and never will. Each major category, Sales, Cost of Goods Sold, Overhead, Other Expenses and Other Income are rated on a scale of top 25%, middle 50% and bottom 25%. You Want Money; Banks Want To Lend Money, What''s The Problem? Edward Deming, Michael Gerber, Walter A.

Finance 48
article thumbnail

Contractors Need Reports Not Bookkeeping

Contractor Bookkeeping

High Overhead Costs (in-house server). Midsize Construction Companies who view construction accounting as an “Overhead Expense” or "Waste of Money" will try to get buy on the cheap. I keep losing money on change orders can you help stop the money leaks? We have a process for managing change orders.

article thumbnail

Contractors Want Reports Not Bookkeeping

Contractor Bookkeeping

High Overhead Costs (in-house server). Midsize Construction Companies who view construction accounting as an “Overhead Expense” or "Waste of Money" will try to get buy on the cheap. I keep losing money on change orders can you help stop the money leaks? We have a process for managing change orders.

article thumbnail

FAQ's About Outsourced Contractors Bookkeeping Services

Contractor Bookkeeping

Have Change Orders. Regular accounting provides the foundation for basic Financial Reports such as Profit & Loss and Balance Sheet which are used by tax preparers for the annual tax return. QuickBooks Works Best If You: Takes Job Deposits. Issues Multiple Invoices. Need Work-In-Progress. Need Job Costing Reports.

FAQ 49