Contractor Bookkeeping

AUGUST 11, 2014

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. QuickBooks Job Profitability Reports. He had to rely on his gut feeling.

Profitability 48

Profitability Contractors Accounting Income 48

ProcurementExpress.com

JANUARY 2, 2019

Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. In a manufacturing context, WIP allows accounting to record all inventory items that occupy an in-between state.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

ProcurementExpress.com

JANUARY 2, 2019

Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. In a manufacturing context, WIP allows accounting to record all inventory items that occupy an in-between state.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Contractor Bookkeeping

AUGUST 29, 2014

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. The concept of profit is somewhat broad and only looks at income and expenses over a certain period, say a fiscal quarter. Keep your inventory as low as possible.

Cash Flow 48

Cash Flow Management Contract Accounting 48

Contractor Bookkeeping

JANUARY 27, 2014

They could do a fine job, the only question is how long would it take and would you be able to sell the house and make a profit? The difference between a Professional Bookkeeping Service and a Cheap Bookkeeper can cost you tens of thousands of dollars a year or more on your bottom line profit. We know what to do!

Contractors 48

Contractors Accounting Banking Profitability 48

Autodesk Construction Cloud

DECEMBER 18, 2021

The final days of a project have a huge impact on your overall profitability and success—as the saying goes, projects are remembered not by how they start but how they finish. Download our Ultimate Project Closeout Checklist : What Is Construction Closeout? Not so fast. Want to set up for closeout success? The reverse bell curve.

Change Orders 52

Change Orders Documentation Equipment Risk 52

Pro Builder

JUNE 6, 2022

history due to low inventories of existing and new homes, low mortgage interest rates (even with recent rate hikes), Baby Boomers downsizing, and Millennials entering the for-sale housing market en masse. While all of that is good news for home builders, simply ramping up volume and sales isn’t synonymous with increasing net profits.

Management 52

Management Cash Flow Profitability Schedule 52