Remove Accounting Remove Bankruptcy Remove Profitability
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Job Costing Accounting Vs. Regular Accounting

Contractor Bookkeeping

There is some confusion about the differences between job costing accounting and regular accounting which leads some contractors to believe they can get what they need from any bookkeeper and the cheaper the better. Two Basic Types Of Accounting. #1 Tax Accountants are good people and have a place in the accounting world.

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Construction Company Recovery After A Financial Setback

Contractor Bookkeeping

Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected, and it's up to you to lead the recovery.

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How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! The most common situation is when a residential remodel contractor who has built a reputation and a substantial company generating profits of 15% or more decides to start building custom homes.

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Bookkeeper Vs. Accountant Vs. C.P.A. For Your Construction Company

Contractor Bookkeeping

Each Branch Of Accounting serves a different function similar to how it works in construction. Three Accounting Skillsets = Three Types Of People. Bookkeepers are the lowest paid and the least skilled accounting specialist. Accountants are the next highest paid accounting specialist. Most C.P.A. Most C.P.A.

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Latest Trend, Bookkeeper Works For Contractor That Goes Bankrupt

Contractor Bookkeeping

No construction company goes bankrupt that had useful accurate Financial Statements and Job Costing Reports that they understood and paid attention to because they would have seen bankruptcy coming well enough ahead of time to avoid it. If The Bookkeeper Has No Skill In Construction Accounting.

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Serious And Funny Construction Definitions Contractors Enjoy Reading

Contractor Bookkeeping

Aggravation Box - Computer with construction accounting software operated by a trainee. Bad Numbers - Lead to bad decisions / cash shrinks / business unstable / bankruptcy or failure. Bankruptcy - Result of saving money on bookkeeping and making decisions on garbage reports. Bid - A wild guess carried out to two decimal places.

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Unique Construction Company Financing Secrets Revealed

Contractor Bookkeeping

1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards. #2 2 The financials tell the banker your bookkeeper doesn''t understand Construction Accounting. #3 4 You have no access to a construction accountant, not even for quarterly check-ups. #5 Five Red Flags To Avoid. #1

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