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

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. Let me tell you about Construction’s Secret Weapon. In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Slow Work in Progress Figures Just Don’t Work.

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

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Real-time work-in-progress figures, or WIP, allow teams to become more efficient, effective, and remain in control.

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Persimmon targets subcontractors in cost-cutting drive

Construction Enquirer

” This includes reviewing construction methods and using Persimmon’s own brick and tile products more widely. ” He said: “Regular interrogation of build processes, product specifications and subcontractors will drive opportunities for savings, as will on-going overhead reviews.”

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QuickBooks Training For Land Developers And Spec Builders

Contractor Bookkeeping

The last thing you want to do in give your banker or investor a Profit & Loss Report showing your company is losing massive amounts of money simply because QuickBooks was set up wrong for your type of business. Knowing how to use Work-In-Progress, Direct and Indirect Construction Costs is key.

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Construction Bookkeeping Unique Features

Contractor Bookkeeping

Construction Bookkeeping Vs. Regular Bookkeeping. Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. Expenses - Overhead required to maintain business operations. Construction Bookkeeping Has These Things In Common: Sales - With 1-10 categories.

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Estimating- The New Normal

Chianelli Estimating

Covid-19 and the Impact on Construction Estimating. Construction is resuming but the effects of COVID-19 has drastically altered the industry’s mode of operations forever. As construction workers make their way back to work whether it’s continuing a project left hanging or starting something new, realities must be faced.

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Contractors Job Costing Library The Key To Increased Profits

Contractor Bookkeeping

Still other contractors rely on places like RS Means for comprehensive databases of construction costs. Your Treasure Box is your construction company''s job costing library. Job costing reporting system based on one of these four foundations: account based, item based, schedule of values based or work-in-progress based (W.I.P.)