Contractor Bookkeeping

AUGUST 6, 2014

You Want Money; Banks Want To Lend Money, What''s The Problem? Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money. Banks stay in business is by loaning money and earning interest. 4 You have no access to a construction accountant, not even for quarterly check-ups. #5

Finance 48

Finance Accounting Construction Banking 48

Levelset

MARCH 21, 2022

Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights.

Cash Flow 98

Cash Flow Insurance Lien Management 98

Contractor Bookkeeping

NOVEMBER 25, 2013

Let and let us take care of your bookkeeping with Xero Accounting Online! You can see at a glance what is happening with your finances anytime online from your smartphone, desktop, iPhone or any web enabled device. We Make Getting Started With Xero Accounting Online Painless! Xero Accounting Online Conversion.

Accounting 49

Accounting Banking Project Management Washington 49

Levelset

MAY 23, 2022

Establish consistent accounting procedures. Measuring what money comes in (accounts receivable) and what goes out (accounts payable) is key to ensuring healthy cash flow. Creating consistent accounting procedures is key to knowing how much money you have going out and coming into your business. Invoice regularly.

Cash Flow 59

Cash Flow Lien Accounting Construction 59

Contractor Bookkeeping

DECEMBER 3, 2013

Did You Have Trouble Setting Up Xero Accounting Online? You are not alone, it is an accounting program built to satisfy the needs of accountants with an attempt to make it easy for non-accountants. Xero Accounting Online Setup is not as complicated as QuickBooks setup projects. Set up your Chart of Accounts.

Accounting 48

Accounting Washington Leases Insurance 48

Levelset

JULY 25, 2022

Businesses whose assets (like cash, accounts receivable, inventory, or materials) exceed the value of their liabilities (like wages, debts, vendor payments, or overhead costs) have working capital to use to maintain or grow. Working capital measures the difference between a construction company’s current assets and current liabilities.

Debt 97

Debt Cash Flow Equity Finance 97

Levelset

APRIL 5, 2022

In this article, we’ll explore some strategies to help you keep money in the bank. Otherwise, you could be overdrawn on your account. Finance material purchases. Material financing can help you delay the payment of material invoices for up to 120 days. Why contractors run out of cash. But what about cash flow?

Cash Flow 52

Cash Flow Finance Construction Materials 52

Contractor Bookkeeping

OCTOBER 23, 2020

Picking a Get-Me-By Contractor's Bookkeeping Solution in many cases is using an Excel Spreadsheet and a shoebox, file folders all dumped into a file box and looking at the Online Banking once in a while. This accounting method is the "I still got money, so I must be okay.".

Cash Flow 75

Cash Flow Contractors Banking Accounting 75

Contractor Bookkeeping

MAY 24, 2019

Construction companies need short-term liquid working capital such as cash, lines of credits, loans, owner financing, credit cards, supplier accounts, and other forms of money to conduct daily operations. Likewise, larger firms can leverage economies of scale.

Contractors 53

Contractors Profitability Banking Change Orders 53

Pro Builder

OCTOBER 12, 2022

It helps lenders assess whether you’re qualified for the loan amount you’re requesting and if you’ve been good at managing your company’s finances. Before applying for a loan or any type of alternative financing, you first need to know where your business credit score stands. What Is a Business Credit Score? The Bottom Line.

Debt 52

Debt Finance Risk Bankruptcy 52

Stok

NOVEMBER 16, 2022

Guest post by Joe Miller , Member of USGBC Delegation to COP27 One topic of urgent and primary focus at COP has been around how and who will finance the changes of climate change. ALIGN ON STANDARDS Some additional takeaways from all discussions at COP are the need for alignment, clarity, and accountability of standards.

Risk 52

Risk Income Liability Banking 52

ENR Construction

AUGUST 6, 2012

Banking & Credit Crisis. How ACS Connect Smooths Jobsite Data to Accounting. Description: Shipping Project Data to Accounting With A Pause for Review. Enter your print subscription account. Gulf Oil Spill. Building Types. Construction Methods. Sustainability. Haiti Reconstruction. Economic Stimulus. Safety & Health.

Accounting 33

Accounting FAQ News Equipment 33

Green Building Law Update

OCTOBER 13, 2019

The Bill if enacted would also create a new permanent Sustainable Finance Advisory Committee that must within 180 days of first meeting submit to the SEC “recommendations about what ESG metrics” the SEC should require be disclosed. But again, there is no realistic scenario under which this becomes law.

DC 120

DC Sustainability Risk Liability 120

Contractor Bookkeeping

AUGUST 16, 2013

All Accounting Uses The Accounting Equation. Bank Balance - Un-cleared Checks) = Cash. Regular Bookkeeping - Is roughly 80% of all accounting for businesses in the world. Construction Bookkeeping - Is roughly 15% of all accounting and Accounting with manufacturing making up roughly 5%. Regular Bookkeeping.

Work in Progress 60

Work in Progress Accounting Construction Leases 60

ENR Construction

AUGUST 8, 2012

Banking & Credit Crisis. Senate Finance Passes Tax Extensions. Enter your print subscription account. Gulf Oil Spill. Building Types. Construction Methods. Sustainability. Haiti Reconstruction. Economic Stimulus. Safety & Health. Project Delivery. Ethics & Corruption. Economic Stimulus. Associations. Washington Observer.

Finance 28

Finance News Engineering FAQ 28

Contractor Bookkeeping

MAY 2, 2013

From the start of my career in construction accounting in the 1970''s until today I have seen a lot of disasters! He would look at the bank balance in QuickBooks and since it always showed over $100,000 he thought life was grand! Later that day he tried using his credit cards to buy gas and they were all declined.

Contractors 49

Contractors Banking Finance Accounting 49

Construction Business Owner

MARCH 6, 2011

ACCOUNTING |. Accounting & Finance. I just finished reading Steven Rattner’s book, Overhaul – An insider’s account of the emergency rescue of the automakers. Mr. Rattner discussed the stress tests given by the Treasury Department to large banks that were receiving TARP funds. Tags accounting.

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

SEPTEMBER 23, 2013

Owning and operating any business including accounting means sometimes you provide goods and services and not get paid. You can offer financing by getting a merchant account setup at a bank and/or credit union that will offer to loan your construction client''s money for small projects. Knowing The Answers Helps. "If

Debt 49

Debt Construction Accounting Banking 49

cnstrctr

JANUARY 4, 2020

It is a legally binding document that the groups agree to at the start of a project and are held accountable to throughout. The different types of construction projects include: Lump Sum Construction Management (Cost Plus / Guaranteed Maximum Price) Design Build Design Build Finance Maintain.

Contract 88

Contract Construction Finance Documentation 88

Construction Business Owner

FEBRUARY 23, 2012

ACCOUNTING |. Accounting & Finance. Anyone working in accounting or human resources has access to immense amounts of personal data. For example, banks and other financial institutions put in stronger measures than many other industries. Tags accounting. accounting software. STRATEGY |. MANAGEMENT |.

Security 120

Security Construction Software Software 120

Contractor Bookkeeping

JANUARY 27, 2014

Construction Accounting Services For Home Builders. Spec Home Builders Have Unique Construction Accounting Needs : Keeping Track Of Specialty Contractor Costs - Is one of the most valuable things your contractors bookkeeping services can do for you. The best way is to use Purchase Orders in QuickBooks.

Contractors 49

Contractors Accounting Banking Profitability 49

Contractor Bookkeeping

JULY 7, 2014

Reconcile The Bank Accounts. Reconcile The Credit Card Accounts. Arrange Financing For Trucks And Equipment. Make Bank Deposits. Accounting Is Not Easy. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to people like you and me so stop missing out!

Contractors 49

Contractors Accounting Banking Project Management 49

Contractor Bookkeeping

AUGUST 27, 2014

QuickBooks Premier Accountant 2000 And Up. If your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly you are riding high and living well! The Chart of Accounts is the foundation and if your Chart of Accounts is not setup right you will not have anywhere to put the transactions.

Contractors 89

Contractors Accounting Work in Progress Profitability 89

Contractor Bookkeeping

NOVEMBER 6, 2020

You can efficiently manage your projects, employees, finances, and records all through your computer or tablet, freeing you up to focus on your clients. Thanks to a variety of online software companies, running your business is now a lot easier.

Software 90

Software Software Finance Deals 90

Contractor Bookkeeping

NOVEMBER 26, 2013

We have expanded our services beyond just QuickBooks for construction and contractors and now offer Xero Accounting Online For Realtors. including full access to Xero Accounting Software until 01-31-14. Anyone interested in continuing further will be offered ongoing Xero Online Accounting and business consulting at a discounted rate.

Washington 48

Washington Accounting Banking Project Management 48

Contractor Bookkeeping

JUNE 15, 2012

You Are Not A Bank - Never lend money to a customer in the form of providing a lot of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. No invoicing, no waiting for the check to arrive and hoping it will clear the bank. You Can Offer Financing - Accept credit cards!

Contractors 54

Contractors Cash Flow Banking Finance 54

Contractor Bookkeeping

MARCH 7, 2013

This is a special type of bookkeeper who BS's their way into a job as a construction bookkeeper with little or no construction accounting skills and in a short time find themselves in over their head with no way out except to keep the game going until they are discovered. At that point he knew something was very, very wrong.

Cash Flow 49

Cash Flow Contractors Banking Accounting 49

Contractor Bookkeeping

OCTOBER 3, 2014

Most of our contractor clients will listen carefully and thoughtfully when we offer advice and words of wisdom because they know, like and trust us and are aware that everyone on here at Fast Easy Accounting have many years of "Real World Construction Experience", not simply academic egg-heads.

Accounting 48

Accounting Construction Banking Contractors 48

Autodesk Construction Cloud

APRIL 24, 2023

Bank failures, rising interest rates, high material prices, and labor crunches are all making it more challenging for construction companies to protect, let alone, improve their margins. And the pressure is rising. The post The Secret Sauce to Protecting Construction Profits appeared first on Digital Builder.

Profitability 97

Profitability Construction Autodesk Forecasting 97

Contractor Bookkeeping

DECEMBER 20, 2013

"Online Invoicing and Bill Pay is the next great leap in productivity since the introduction of the cell phone!" - Randal DeHart, Premier Construction Accountant. Randal DeHart, Premier Construction Accountant. Fast And Easy – Access your online Bill.Com account in a few seconds to start sending invoices and paying bills.

Profitability 48

Profitability Accounting Construction Security 48

Contractor Bookkeeping

JUNE 21, 2012

Construction Companies - Need short term liquid working capital such as cash, lines of credit, loans, owner financing, credit cards, supplier accounts and other forms of money to conduct daily operations. Your Construction Accountant - Is a valuable key component in setting up QuickBooks to help you keep track of it all.

Profitability 48

Profitability Contractors Banking Change Orders 48

Construction Marketing

FEBRUARY 11, 2021

10) Business bank account and credit card. A separate bank account will make management easier, and it will help protect your personal assets. Plus, establishing your business credit will make financing your business easier. . 11) Accounting. Taxes will depend on the business structure and the area.

Insurance 296

Insurance Liability Legal Compensation 296

Contractor Bookkeeping

AUGUST 29, 2014

Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Note: A construction accountant is the best person to help you learn how your cash flow statement works. What Makes Up Your Construction Company Cash Flow?

Cash Flow 48

Cash Flow Management Contract Accounting 48

Work Gearz

SEPTEMBER 22, 2020

How to approach financing for contractors. Construction only loans : The loan must be fully repaid once construction is complete when we talk about construction-only financing. With construction-to-perm financing, the lender is liable to pay the contractor when the work is underway. First National Bank. Timelines of loan.

Construction 40

Construction Finance Comparison Drawings 40

Construction Business Owner

MARCH 29, 2012

ACCOUNTING |. Accounting & Finance. Does an electrical raceway run through a duct bank? Tags accounting. accounting software. Construction Accounting Software. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law.

Construction 120

Construction BIM Software Software 120

Contractor Bookkeeping

JULY 24, 2014

In the late 1800''s bankers, lenders and credit agencies began working toward a common language to develop a set of standards for how financial statements could be presented that would allow everyone in the world of finance to compare apples to apples. See more at: [link].

Accounting 48

Accounting Construction Contractors Profitability 48

Contractor Bookkeeping

JULY 18, 2012

Spec Home Builders - Need people trained in construction bookkeeping who understand how to put together a bank draw correctly, not someone with experience in regular bookkeeping. Professional Construction Accounting Firms - Have a Bookkeeping System to generate the same results every time. All because they hired the wrong bookkeeper.

Banking 54

Banking Remodeling Profitability Drawings 54