PSMJ Resources

JULY 10, 2013

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. With government clients, this term can reduce overhead, making your contract price more attractive. Shorten the billing/payment cycle.

Profitability 43

Profitability Contract Negotiation Debt 43

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. It gets complicated because construction companies need to pay their workers on a regular schedule, and then, account for subcontractors and their payment schedules as well. Well, not exactly.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. It gets complicated because construction companies need to pay their workers on a regular schedule, and then, account for subcontractors and their payment schedules as well. Well, not exactly.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Contractor Bookkeeping

AUGUST 16, 2013

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. Fixed List Of Your company Schedule of Values.

Work in Progress 58

Work in Progress Accounting Construction Leases 58

Levelset

AUGUST 4, 2022

Where direct labor is the percentage of salaries that are spent on billable work (rather than overhead time). Now that you know how much you’ll be charging for each project, you can look at the schedule for the project and estimate how much of the fees you can charge each month. Example of revenue projection.

Cash Flow 52

Cash Flow Budgeting Budget Forecasting 52

Contractor Bookkeeping

MAY 5, 2014

Owner’s equity is in theory what would be left over if you liquidated the company, sold the assets and paid all of the debts or liabilities. This means you will send a plumbing drain technician to clean the main drain of the restaurant four times a year at a cost to your company of $75 for labor and overhead each = $300.

Cash Flow 48

Cash Flow Agreement Profitability Contractors 48

Contractor Bookkeeping

MARCH 9, 2013

Some Contractors Hire Part Time Secretaries to do everything including construction bookkeeping and then wonder why their company debts keep growing and crushing them. Maintain a fixed asset list with depreciation schedule. Separate direct and indirect job costs from overhead. Enter Schedule of values for new jobs.

Contractors 48

Contractors Cash Flow Banking Change Orders 48