Remove Banking Remove Cash Flow Remove Housing
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Tips For Working With Banks And Lenders In The Construction Industry

Contractor Bookkeeping

If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cash flow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand.

Cash Flow 126
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Unique Tips For Managing Cash Flow In Your Contracting Company

Contractor Bookkeeping

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?

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Contractor Cash Flow Problems Caused By A Bookkeeping Troll

Contractor Bookkeeping

He was not aware of the extent of the problem because the bookkeeper hid the bounced check notices and intercepted the phone calls from the bank, the angry merchants and suppliers by applying for new credit cards in the contractors name to finance the house of cards. At that point he knew something was very, very wrong.

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Contractors Are Skilled In Construction But Not Usually In Construction Accounting

Contractor Bookkeeping

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. As the project grows it gets a little more complicated. Is it a kitchen remodel, a bath remodel, upgrading the laundry area? Building a Deck?

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You Have HUD-1 Statements And Your Bank Wants Financial Statements

Contractor Bookkeeping

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.) Does this sound familiar? Mastering A Trade Or Profession Takes Minimum.

Banking 50
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How High Profit Jobs Send Contractors Into Bankruptcy

Contractor Bookkeeping

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. Home Builder Doing A Residential Remodel.

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Are There Lessons From the Great Recession for the COVID-19 Pandemic?

Pro Builder

Many builders reported that last December was unusually busy, the best in years for housing starts and contracts. Yet some tools and tactics are salient no matter the economic climate, such as controlling cash flow and getting out of deals that may no longer pencil out in the new conditions. . . 1] Mind Your Cash.