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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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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

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.

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Washington State Department of Revenue Sending E-Mail To Contractors

Contractor Bookkeeping

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.

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Contractor Cash Flow Problems Caused By A Bookkeeping Troll

Contractor Bookkeeping

Several Washington State Department of Revenue sales tax reports and payments were never filed and paid. He would look at the bank balance in QuickBooks and since it always showed over $100,000 he thought life was grand! Two years later the cheap bookkeeper had turned his QuickBooks into one of the worst disasters I have ever seen.

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Washington State Contractors - Time To Get 2014 Resale Certificate

Contractor Bookkeeping

Construction Companies - In Washington State contractors selling material (as part of your service) is a taxable event. You Can Pay Sales Tax - On every purchase as you go if you have unlimited cash flow? Where Does Your Client Live - Washington State is destination based. Who is the customer? When is sales tax paid?

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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? and not in Cost of Goods Sold (COGS) or Expenses.

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When Being A Licensed Contractor Is Just Not Enough!

Contractor Bookkeeping

If you are doing construction work in Washington State You can start here https://fortress.wa.gov/lni/bbip/Search.aspx - mobile app is coming. In Washington State you can do it through The Department of Labor And Industries. Washington State Licenses [link]. Is your #1 Favorite Customer adding / taking profits or cash flow?