Remove Debt Remove Insurance Remove Liability Remove Overhead
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Construction Bookkeeping Unique Features

Contractor Bookkeeping

Assets - Liabilities) = Equity. -. Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting. Chart of Accounts Bad Debts. Chart of Accounts Bad Debts. Cash On Hand.

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10 Contract Terms for Higher Profitability

PSMJ Resources

Receiving money up front, depositing it, and not crediting it to the client until the last invoice has been submitted allows you to avoid a bad debt, and earns maximum interest on the deposit. In addition to normal reimbursables, ask for reimbursement for items such as liability insurance premiums, computer time, and messenger services.

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Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Chart of Accounts Payroll Tax Liabilities. Chart of Accounts Bad Debts. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Health And Dental. Insurance Audit Reporting. Chart of Accounts Payroll.