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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. 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. That’s accounting’s job, right?

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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. 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. That’s accounting’s job, right?

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FAQ's About Outsourced Contractors Bookkeeping Services

Contractor Bookkeeping

It includes a brief overview of our outsourced contractors bookkeeping system that allows us to service a number of combinations of construction companies including: One Income Contractors: Handyman Services. Multiple Income Contractors: Handyman + General + Remodel. Any Combination With An Inventory Of Rental Properties.

FAQ 49
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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. The benefits include improved collaboration and real-time insights into spending patterns. Get to Know the Cash Flow Report. Use Reports to Inform Budgeting.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Think about it this way: bringing your purchasing process into the cloud means you can check incoming orders against pending ones, cutting back on duplicates that hurt your bottom line. The benefits include improved collaboration and real-time insights into spending patterns. Get to Know the Cash Flow Report. Use Reports to Inform Budgeting.

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Custom Home Builders Have Unique Bookkeeping Needs

Contractor Bookkeeping

For a short while the deposit is actually a liability not income until the part is futher along in the process. Custom Home Builders - Who also do some remodel work, buy houses for rental inventory and buy houses to fix up and sell, house flippers, create special problems for regular bookkeepers. We know what to do!