ProcurementExpress.com

JANUARY 2, 2019

Work in progress figures might not sound like something you need to think much about. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. This means that contractors have not billed for completed work.

Work in Progress 40

Work in Progress Inventory Accounting Budgeting 40

Contractor Bookkeeping

JUNE 18, 2013

Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit. Poor scheduling affects production and cash flow.

Cash Flow 48

Cash Flow Construction Change Orders Contractors 48

Contractor Bookkeeping

JULY 21, 2012

There is only one method that will help manage cash flow and save money on taxes. Complex Invoicing - With multiple deposits, payments, change orders, payment history and running totals your customer can follow. Work In Progress (WIP) Reporting. Job Deposit Tracking. Quarterly Tax Returns. Sales Tax Returns.

Remodeling 51

Remodeling Cash Flow Construction Work in Progress 51

Contractor Bookkeeping

JULY 18, 2012

There is only one method that will help manage cash flow and save money on taxes and we know how to do it and track it for you in QuickBooks. Complex Invoicing - With multiple deposits, payments, change orders, payment history and running totals your customer can follow. Work In Progress (WIP) Reporting.

Electrical 48

Electrical Contractors Cash Flow Commissioning 48

Contractor Bookkeeping

JULY 18, 2012

There is only one method that will help manage cash flow and save money on taxes and we know how to do it and track it for you in QuickBooks. Complex Invoicing - With multiple deposits, payments, change orders, payment history and running totals your customer can follow. Work In Progress (WIP) Reporting.

Contractors 48

Contractors Cash Flow Commissioning Work in Progress 48

Contractor Bookkeeping

JULY 18, 2012

Commercial Tenant Improvement Contractors - Who also do some remodel work, service work as a method of marketing, buy houses for rental inventory and buy houses to fix up and sell, house flippers, create special problems for regular bookkeepers. Work In Progress (WIP) Reporting. We know what to do! Job Deposit Tracking.

Commercial 55

Commercial Contractors Remodeling Cash Flow 55

Contractor Bookkeeping

SEPTEMBER 27, 2013

You Need To Track Job Deposits - Customer down payments can be input many different ways and there is one method that works best and helps you manage cash flow and it can save you money on taxes. You May Need A Simple Change Order Template - You can use to track change orders and get paid for them.

Banking 50

Banking Change Orders Accounting Cash Flow 50

Contractor Bookkeeping

FEBRUARY 28, 2014

Construction Company Failure Root Causes: Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit.

Profitability 49

Profitability Contractors Cash Flow Accounting 49

Contractor Bookkeeping

AUGUST 30, 2013

What we can share is something that has been going on for hundreds if not thousands of years and is so simple that it hurts me to know that most contractors who need more cash flow and profit will do it and contractors who don''t need more cash and profits do it regularly. Change Order Management. Job Scheduling.

Profitability 48

Profitability Contractors Accounting Cash Flow 48

Contractor Bookkeeping

JULY 18, 2012

Often during construction there are a numbe of change orders, addtions and deletions and a lot of the time the homeowner wants to provide certain materials. Whenever there is a large single peice of equipment or part the custom home builder may ask for a deposit before placing the order. Work In Progress (WIP) Reporting.

Cash Flow 48

Cash Flow Remodeling Profitability Banking 48

Contractor Bookkeeping

OCTOBER 4, 2013

Working for customers instead of clients and not charging enough (The 80-20 Rule). Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit. Poor scheduling affects production and cash flow.

Profitability 49

Profitability Construction Accounting Cash Flow 49

Contractor Bookkeeping

MARCH 25, 2014

After you have obtained your bond, the surety will likely ask you to prepare quarterly schedules of work in progress. This includes such information as whether you have overbilled or underbilled the project – change order issues, revisions to cost estimates, estimated final gross profits and anticipated completion dates.

Cash Flow 53

Cash Flow Accounting Profitability Work in Progress 53