ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Signatures from both the client and contractor.

Cash Flow 52

Cash Flow Contractors Budget Budgeting 52

Contractor Bookkeeping

AUGUST 29, 2014

Cash flow is the lifeblood of any construction company and especially the ones with annual sales volume under $1,000,000. Some construction Company experts even say that a healthy cash flow is more important than your contracting company''s ability to complete projects! What Makes Up Your Construction Company Cash Flow?

Cash Flow 48

Cash Flow Management Contract Accounting 48

Construction Business Owner

FEBRUARY 16, 2012

» Contractors Seeking Credit Should Prepare to be Prepared. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Building your case beforehand can certainly help and makes you look better in the eyes of the bank.

Banking 120

Banking Construction Cash Flow Finance 120

Contractor Bookkeeping

MAY 5, 2014

In the meantime, service agreement customers are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary. Keep The Service Agreement Cash Separate. One of the best parts is you have an immediate increase in cash flow. 5 Immediate increase in cash reserves.

Cash Flow 48

Cash Flow Agreement Profitability Contractors 48

Contractor Bookkeeping

MARCH 7, 2013

After interviewing this contractor and his bookkeeper and conducting a thorough review of his QuickBooks for Contractor file and the QuickBooks Setup I believe this contractor had a bookkeeping troll. He would look at the bank balance in QuickBooks and since it always showed over $100,000 he thought life was grand!

Cash Flow 49

Cash Flow Contractors Banking Accounting 49

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. Between regulations, economic uncertainty, and other outside forces; always a learning curve.

Cash Flow 75

Cash Flow Contractors Banking Accounting 75

Contractor Bookkeeping

MARCH 26, 2021

They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions. 2 Cash Coming In - This report shows you how much cash your customers and clients owe you and how much of it will be likely to receive in the next 30-60-90 days. #3

Accounting 109

Accounting Software Software Cash Flow 109

Contractor Bookkeeping

APRIL 23, 2021

Some construction business owners find themselves in the difficult position of running a business that appears to be profitable but still having no money in the bank. After all, a lack of adequate cash flow is one of the leading causes of small construction business failure. It's a critical situation to address.

Cash Flow 71

Cash Flow Profitability Banking Construction 71

Contractor Bookkeeping

DECEMBER 2, 2016

We suggest you start by contacting you bank and doing your own research. I know from many years while we were contractors it paid off handsomely so I am simply passing on a mere "scrap of information" to help you get more cashflow and profit. Accepting Credit Cards Can Immediately Increase Sales And Profits*. *We Who Will They Call? -

Cash Flow 48

Cash Flow Contract Banking Profitability 48

Levelset

OCTOBER 19, 2022

However, before starting work on a building financed with a construction-to-permanent loan, both property owners and contractors need to understand the risks. Contractor risks with a construction-to-permanent loan. These risks should be a non-issue when contractors have a comprehensive risk management plan in place.

Contractors 98

Contractors Lien Finance Construction 98

Contractor Bookkeeping

FEBRUARY 13, 2015

It is no secret that contractors are among the industries where many cash transactions take place and sometimes they get busy and forget to deposit the money in the bank, properly track it inside their contractors bookkeeping services system and pay the taxes on it.

Cash Flow 48

Cash Flow Contractors Hawaii Alaska 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. McDonalds Restaurants Earns - Massive profits and part of the reason is cash flow. Your Money Goes To Your Bank In An Electronic Armored Car.

Contractors 54

Contractors Cash Flow Banking Finance 54

Contractor Bookkeeping

JUNE 9, 2017

Almost every Contractor understands how to do basic repairs and remodels on a house. Perhaps you tracked everything with bank statements and Excel sheets and it worked fine for a while. Perhaps you tracked everything with bank statements and Excel sheets and it worked fine for a while. Building a Deck? Adding a garage?

Accounting 48

Accounting Cash Flow Remodeling Contractors 48

Contractor Bookkeeping

JULY 27, 2012

Please feel free to share them with your friends, relatives and most importantly contractors as they will appreciate the humor and perhaps find value in the words of wisdom we are sharing. 80/20 Rule – 80% of a contractor’s wealth and wellbeing comes from 20% of their activities.

Contractors 63

Contractors Cash Flow Construction Accounting 63

Contractor Bookkeeping

MARCH 9, 2013

Some Contractors Hire Part Time Secretaries to do everything including construction bookkeeping and then wonder why their company debts keep growing and crushing them. Having all the job costs sorted and linked to each job in QuickBooks for Contractors. Tracking change orders in QuickBooks for Contractors for each job.

Contractors 48

Contractors Cash Flow Banking Change Orders 48

Levelset

AUGUST 29, 2022

Having access to extra cash flow can eliminate financial barriers before they become roadblocks for your business. Even if you have enough cash today, financing your materials is a great solution to have in your back pocket for unexpected needs in the future. “We Growing your business requires cash.

Finance 52

Finance Cash Flow Materials Banking 52

Contractor Bookkeeping

JUNE 16, 2012

For most people cash in short supply which leaves using a credit card, getting a bank loan or selling something to raise cash as their best options? If you are their contractor and you are actively working your Home Asset Management Plan you will get the go ahead to make the repairs. Who Will They Call? - You I hope!

Profitability 55

Profitability Contractors Cash Flow Banking 55

Levelset

APRIL 5, 2022

Bigger projects require more materials and more labor, which means higher cash requirements. Contractors can take on more work than their cash flow will let them perform, leaving them scrambling for cash to pay their bills or their employees. Why contractors run out of cash. But what about cash flow?

Cash Flow 52

Cash Flow Finance Construction Materials 52

Contractor Bookkeeping

MAY 12, 2017

The Ripple Effect Of Not Counting All Your Income Happens When You Go To The Bank For A Loan. You need to be able to show the bank that you have enough sales to pay back the loan. For most contractors, an excessive amount of profit is NOT an issue. Some contractors think buying a truck for cash is not traceable).

Income 58

Income Profitability Contractors Banking 58

Levelset

JUNE 14, 2022

Inflation is more than a buzzword for specialty contractors. Contractors report that supply chain disruptions impact inventory and their ability to forecast for the future. These cash flow challenges can cause detrimental results that drain the bank and negatively impact the amount of cash on hand.

Materials 52

Materials Cash Flow Deals Finance 52

Contractor Bookkeeping

JUNE 11, 2014

Washington State Department of Revenue is sending emails to all construction Contractors and other business owners. A new message regarding a change to the Department of Revenue''s banking information is waiting in your Secure Messaging Inbox regarding your account. Many banks will process payments and then any pending deposits.

Washington 48

Washington Contractors Banking Cash Flow 48

Levelset

JULY 25, 2022

Debt capital is funding that a construction business acquires by borrowing, typically from banks or other lending institutions. By taking on debt, construction companies can defer payment on large purchases and use cash reserves for more immediate costs, like employee payroll or purchasing materials for a new job. . Debt capital.

Debt 97

Debt Cash Flow Equity Finance 97

Levelset

JUNE 6, 2022

Construction projects rely on contractors completing the work they started and meeting the design intent. 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.

Accounting 98

Accounting ABC Banking Liability 98

Contractor Bookkeeping

NOVEMBER 3, 2012

The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. The same goes with managing sub-contractors and suppliers.

Profitability 49

Profitability Bankruptcy Contractors Remodeling 49

Contractor Bookkeeping

JANUARY 20, 2023

Juggling existing financial commitments such as a mortgage or bank loan could put a squeeze on your business plans. Practically, solo contractors manage every aspect of their business, but we are here to help you navigate it. Freelancers in all industries deal with the same problems due to the nature of their work.

Budgeting 93

Budgeting Budget Banking Construction 93

Contractor Bookkeeping

MAY 24, 2019

The larger your construction business grows, the more likely you could end up operating as a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. What often happens is that contractors hate paperwork preferring to keep everything in their head.

Contractors 53

Contractors Banking Profitability Change Orders 53

Levelset

FEBRUARY 3, 2023

Managing cash flow in the construction industry is difficult in any economy, but during a recession, specialty contractors face even more financial challenges than usual. At Levelset, we understand the construction industry and the importance of cash flow security for specialty contractors.

Finance 52

Finance Cash Flow Materials Security 52

Contractor Bookkeeping

MARCH 16, 2013

We Help Contractors Who Want The Company They Dreamed Of Owning. Most contractors love building things and meeting with customers. Seeing the joy on a homeowner's face when the new home is finished or when the big remodel is done gives contractors a lot of satisfaction and feelings of accomplishment.

Contractors 48

Contractors Cash Flow Profitability Remodeling 48

Contractor Bookkeeping

SEPTEMBER 25, 2013

When You Hire A 1099 Contractor They May. Having a contractor’s license is not proof enough you are a business verses an employee. If you hire a 1099 Contractor (Specialty or Trade Contractor) they just become your employee in the eyes of the tax agencies. When a being a licensed contractor is just not enough!

Contractors 49

Contractors Cash Flow Washington Compensation 49

Contractor Bookkeeping

MARCH 16, 2013

We Help Contractors Who Want The Company They Dreamed Of Owning. Most contractors love building things and meeting with customers. Seeing the joy on a homeowner's face when the new home is finished or when the big remodel is done gives contractors a lot of satisfaction and feelings of accomplishment.

Contractors 48

Contractors Cash Flow Profitability Remodeling 48

Contractor Magazine

SEPTEMBER 2, 2014

profit percentage before taxes, the difference between profits and the cash in your bank account, and why cash flow is so important to the company. In some of the previous installments of this series, we’ve discussed the importance of proper job costing, the industry’s dismal 3.5% read more.

Accounting 40

Accounting Cash Flow Profitability Banking 40

Contractor Bookkeeping

MAY 28, 2014

Contractors Success M.A.P. Listening To The Contractors Success M.A.P. Can Help You Overcome the challenges of Marketing, Accounting and Production by focusing on the keys to unlock your contracting company natural inclination to generate consistently high cash flow and profits. Podcast Is Live. Need Help Now?

Contractors 48

Contractors Accounting Profitability Cash Flow 48

Contractor Bookkeeping

SEPTEMBER 27, 2013

You are a spec home builder in need of a construction draw and your bank or lender wants to see your latest financial reports and this time they want all of the current houses you are working on to be reflected in QuickBooks correctly as Work-In-Process (W.I.P.) Contractor Invoicing. Does this sound familiar? Job Deposit Tracking.

Banking 49

Banking Change Orders Accounting Cash Flow 49

Levelset

FEBRUARY 15, 2022

Contractors working in Pennsylvania on public works projects must pay their workers on a weekly basis. The prevailing wage rates for a project must be posted by the general contractor and each subcontractor on-site. Higher labor costs can put a real crunch on your cash flow during a prevailing wage job. Learn More.

Pennsylvania 52

Pennsylvania Contractors Cash Flow Contract 52

Contractor Bookkeeping

SEPTEMBER 1, 2014

One of the most common complaints we hear from contractors is they feel like they are missing out if they are not using all that QuickBooks has to offer. Most contractors are hard driving Type "A" personalities who are concerned they are paying full price for QuickBooks and only using a fraction of what it can do and it drives them crazy.

Contractors 48

Contractors Accounting Cash Flow Profitability 48

Levelset

FEBRUARY 18, 2022

In Minnesota, prevailing wage laws apply to state-funded construction projects that are over $2,500 with one trade contractor or over $25,000 with more than one trade contractor. Prevailing wage rates are often higher than what most contractors pay their workers. Get materials now, keep your cash.

Minnesota 52

Minnesota Contractors Cash Flow Finance 52

Contractor Bookkeeping

DECEMBER 20, 2013

Bill.Com Setup With The Unique Needs Of Construction Contractors. You''ll also want to introduce us to your bank, so you can make and receive payments, add other users and set up a workflow, and personalize your account. Bill.Com Works With Xero Accounting Online And QuickBooks Desktop In The Cloud.

Contractors 48

Contractors Accounting Cash Flow Construction 48