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The Right Accounting Software Can Increase Your Profits

Contractor Bookkeeping

Most construction business owners who use accounting software quickly master the basics. 1 Cash On Hand - This report shows you how much cash you have in your checking accounts, savings accounts, payroll accounts, hip national bank (your wallet), and petty cash box in your office. #2

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Retention receivable and payable is different from accounts receivable and payable. View profile.

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Setting Up the Chart of Accounts: QuickBooks for Contractors

Levelset

The Chart of Accounts is the heart of every contractor’s accounting system , whether you’re using QuickBooks or any other construction accounting software. In this article, we’ll explain how a contractor’s Chart of Accounts should be set up in QuickBooks , with a free customizable template for construction. .

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What Is Xero Accounting Software And Why Are We Offering It?

Contractor Bookkeeping

What Is Xero Accounting Software? Xero Is An Established Leader In Accounting Software having been around since July 2006 and has quickly grown to over 200,000 users. And they have made obsolete some of the less useful online software which was built as a lite version of their desktop counterparts like QuickBooks Online.

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What Happened at the 2017 CFMA Conference?

Construction Business Owner

Membership in CFMA is represented by all types of general contractors, specialty trades and construction managers, with a large number of professionals in the accounting, insurance, surety, software, legal and banking industries.

CFMA 136
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Annual Tax Return Pointers For Construction Contractors

Contractor Bookkeeping

Tip number one for construction company owners is to update financials every month, using a streamlined software or cloud-based system. Second - The Profit And Loss Balance Sheet is what Tax Accountants use. They are referred to and reviewed over and over by banks and others.

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QuickBooks Online Converted To Xero Accounting Online

Contractor Bookkeeping

We Can Move Your QuickBooks Online To Xero Accounting! We can move everything from inside QuickBooks Online into Xero accounting and set it up for contractor use and provide you with easy online access. Periodic Invoices For Bank draws. Need Complex Construction Accounting Reports. Set up your Chart of Accounts.