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Unique Bookkeeper Errors Reduce Contractor Profits

Contractor Bookkeeping

The banker said his Profit & Loss, Balance Sheet did not look right to him. His banker was a blunt and told him that if he wanted to stay in the construction business he needed to have accurate Profit & Loss, Balance Sheet and Job Costing Reports. This One Bookkeeper Error Caused the contractor to OVERPAY HIS ANNUAL INCOME TAX.

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Do Contractors Need Every QuickBooks Feature?

Contractor Bookkeeping

For Example - The simple Profit & Loss Report Can Be Shown Four Different Ways With Little Effort. The First Two Profit & Loss Reports Show Accrual Basis Vs. Cash Basis. The Next Two Profit & Loss Reports Show Accrual Vs. Cash And % of Income. The truth is no contractor uses 100% of the power of QuickBooks.

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Unique Contractor Investment Can Exceed 100% Return

Contractor Bookkeeping

I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. Knowledge Leads To Profits And Cash Flow. One Tiny Bit Of Knowledge High Profit Contractors. At 10% Profit You Need $15,544.20 More Sales To Maintain Profit Margin. Use Of Knowledge!

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Contractor Sucess M.A.P. Podcast

Contractor Bookkeeping

Can Help You Overcome the challenges of Marketing, Accounting and Production by focusing on the keys to unlock your contracting company natural inclination to generate consistently high cash flow and profits. Alaska And Hawaii How To Use M.A.P. We Are Construction Success Experts Guiding Contractors Just Like You All Across The U.S.A

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Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. Is Cash Flow The Same As Profit? While they might seem similar, profit and cash flow are two entirely different concepts, each with entirely different results. Cash is king!

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Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. Which QuickBooks Reports Will Help You Increase Sales And Profits? Of course you are!

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Choosing QuickBooks Version For Your Contracting Company

Contractor Bookkeeping

QuickBooks Pro - Is great for contractors acting as Sole Proprietor with annual sales under $100,000 who simply need a way to keep track of basic income and expenses. When you spend money record it in the check register as an expense and when you receive money record it as income. Do you remodel existing homes and commercial spaces?