ProcurementExpress.com
JANUARY 2, 2019
In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. 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.
Viewpoint Construction Technology
APRIL 24, 2019
Soule are using BI technology to dramatically improve productivity and profitability. But with the risk also comes the increased potential for improved efficiency and savings, leading to a greater profit margin for contractors that are used to typically razor thin margins on projects. Endless Opportunities for Today and Tomorrow.
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ProcurementExpress.com
JANUARY 2, 2019
In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. 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.
ProcurementExpress.com
FEBRUARY 11, 2019
Juggling Vendors, Subcontractors, and Large Inventories. What are the overhead costs? Profit margins in the construction industry are notoriously tight. As mentioned, construction teams risk losing out on profits when quality control isn’t given priority. Communication is a critical part of increasing profit margins.
ProcurementExpress.com
FEBRUARY 11, 2019
Juggling Vendors, Subcontractors, and Large Inventories. What are the overhead costs? Profit margins in the construction industry are notoriously tight. As mentioned, construction teams risk losing out on profits when quality control isn’t given priority. Communication is a critical part of increasing profit margins.
Contractor Bookkeeping
AUGUST 29, 2014
Outflows for your Construction Company are generally the result of paying labor, material, other direct and indirect costs of goods sold and overhead expenses. 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.
Contractor Bookkeeping
SEPTEMBER 20, 2013
No Inventory Reporting. QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales. Profit & Loss statement anytime YOU want it! Payroll Issues.
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