Remove Bankruptcy Remove Bidding Remove Profitability
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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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Construction Change Order Phobia Increases Stress Reduces Profits

Contractor Bookkeeping

The Incompetent Bookkeeper - Was fully awake now and made it clear in no uncertain terms that "if the owner knew how to properly bid projects and run the jobs" that QuickBooks was all they needed for any and all of the projects the company did including large residential remodel projects.

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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. And Job Costing Bankruptcy Is A Matter Of Time!

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Job Costing Accounting Vs. Regular Accounting

Contractor Bookkeeping

Job costing reports are the key to unlocking the mystery of which markets to serve, which jobs to bid, how much they need to cover the direct and indirect costs and which ones to walk away from. Construction accountants think holistically because Job Costing Reports are not the same as Profit and Loss reports.

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Serious And Funny Construction Definitions Contractors Enjoy Reading

Contractor Bookkeeping

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. Bid Collector - Customer looking for cheap contractor.

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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

Paired with razor-thin profit margins, it’s increasingly difficult for construction firms to build and maintain the financial foundation necessary to compete and thrive in the industry. Faster payment cycles are essential for GCs and subcontractors alike to stay profitable in today’s fast-paced and evolving economic environment.

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Estimating- The New Normal

Chianelli Estimating

The tendency to adjust their bid estimating will inadvertently produce many business failures. One error may be the difference in bankruptcy or staying afloat. Indirect costs can come in various ways and can add up in a hurry vastly cutting into profit. The result will not be pretty. Under estimate real costs. Office Utilities.