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! Is Cash Flow The Same As Profit?

Cash Flow 48

Cash Flow Management Contract Accounting 48

Contractor Bookkeeping

OCTOBER 9, 2020

I saw a special where a manufacturer described how the process is that they moved employees on a scheduled basis between workstations to help them avoid boredom and stay fresh throughout their workday. Proved to be a Win-Win for everyone.

Accounting 100

Accounting Cash Flow Accidents Profitability 100

Best Practices Construction Law

NOVEMBER 26, 2012

Who couldn't use more cash during the holiday season? No matter the season, however, construction companies rely heavily on cash flow to fund their operations. Cash flow depends on so many variables, but there are a few that you can control. Written Contract. Contract Provisions. Project Management Tips.

Cash Flow 48

Cash Flow Project Management Change Orders Agreement 48

Contractor Bookkeeping

MAY 5, 2014

Service agreement holders are more likely to be clients that add more value to your construction company because they represent the most loyal segment of your customer base. 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.

Cash Flow 48

Cash Flow Agreement Profitability Contractors 48

Levelset

MARCH 11, 2022

It’s time to re-educate the construction industry and reframe the “low bid wins” philosophy. In addition, they make less per project and ultimately end up with too little profit, if any, to grow. Owners or developers frequently push for the low-bid procurement method in construction. Low Bidding Impacts Contractor Cash Flow.

Bidding 98

Bidding Cash Flow Contractors Procurement 98

Autodesk Construction Cloud

DECEMBER 12, 2021

Why Construction Teams Should Be Tracking Way More Than Financials. In fact, 43% of construction firms prioritize immediate financial goals over organizational resilience. Below, let’s discuss the importance of construction KPIs and critical metrics your company should be measuring to affect profits and productivity.

Profitability 52

Profitability Products CFMA Construction 52

Lets Build

AUGUST 4, 2023

In today’s construction industry, the success of your projects hinges on investing in the right digital and technological solutions. Such solutions play a vital role in different phases and areas of construction, including on-site coordination, execution, safety, communication, etc. This allows you to work within the budget.

Software 78

Software Software Construction Budgeting 78

Lets Build

AUGUST 4, 2023

In today’s construction industry, the success of your projects hinges on investing in the right digital and technological solutions. Such solutions play a vital role in different phases and areas of construction, including on-site coordination, execution, safety, communication, etc. This allows you to work within the budget.

Software 78

Software Software Construction Budgeting 78

Construction Business Owner

MARCH 1, 2012

Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Data Security in the Cloud » Collaborating on Cash flow. Bad or outdated information is probably one of the biggest reasons cash flow issues occur. INSURANCE |.

Cash Flow 120

Cash Flow Construction Software Software 120

Levelset

JULY 11, 2022

There is no shortage of work in the construction industry right now. Delayed payment is felt by nearly 90% of contractors, according to Levelset’s 2021 Construction Cash Flow & Payment Report. Learn more about construction financial management with this free course. . Bid bigger.

Cash Flow 52

Cash Flow Bidding Finance Materials 52

Levelset

APRIL 1, 2022

As a contractor or sub, you can expect to incur many costs during the course of a construction project. However, there is one very expensive cost that isn’t so cut and dry: construction site theft. Theft from construction sites is a serious issue, and it costs contractors a lot of money each year. Schedule delays.

Site 52

Site Cash Flow Insurance Construction 52

Contractor Bookkeeping

SEPTEMBER 12, 2014

Construction Company. Cost Is What You See - Profit potential is what you don''t see. High profit construction company owner''s focus on both and understand it "Takes Money To Make Money". Highly Profitable Companies - Focus on how high is up? This one thing can have a massive impact on cash flow and profits.

Profitability 48

Profitability Accounting Construction Project Management 48

Autodesk Construction Cloud

JULY 8, 2021

In 2020, the value of commercial construction amounted to approximately $5.8 Given the continually changing nature of construction projects, accurately managing and executing construction costs is critical to the project’s financial outcome. This is where construction cost codes come into play. trillion globally.

Construction 52

Construction Profitability Budgeting Budget 52

Autodesk Construction Cloud

JANUARY 19, 2022

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations.

Cash Flow 59

Cash Flow Management Profitability Change Orders 59

PSMJ Resources

JULY 10, 2013

Most clients are demanding more work for lower fees, and firms that do not reexamine the terms of their contracts usually find themselves without enough income to break even, let alone make a profit. With private sector clients, it can dramatically increase profits. Shorten the client''s schedule and then work overtime.

Profitability 43

Profitability Contract Negotiation Debt 43

Contractor Bookkeeping

AUGUST 30, 2013

We Serve Several Highly P rofitable Construction Companies and some not as profitable ones. The differences in operations between the two groups are very small and yet the profit picture is massively different. Invite Your Construction Bookkeeper To A Jobsite For Half A Day. Direct Construction Costs.

Profitability 48

Profitability Contractors Accounting Cash Flow 48

Contractor Bookkeeping

OCTOBER 4, 2013

Starting Or Re-Starting A Construction Company Is Easy. Secret #01 Decide What You Want From Your Construction Company. Action Step - 01: On a peice of paper type and print or hand write a description of what you want from your construction company and put it into a three ring binder. If You Know Exactly What To Do.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Construction Business Owner

APRIL 26, 2012

Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « Connecting in Construction. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. INSURANCE |. EQUIPMENT |.

Change Orders 120

Change Orders Construction Profitability Software 120

PSMJ Resources

APRIL 30, 2012

Do Small Projects Need Schedules? Is it really critical that small projects have a schedule? Here are some of the most important reasons that schedules are developed: 1) First and foremost, you always want to get the work done on time. Without a schedule, it gets done when it gets done. quality, speed, and profitability.

Schedule 46

Schedule Resource Cash Flow Project Management 46

ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. Let’s take a look: Free Download: 6 Forecasting Best Practices All Construction Teams Need to Know Click Here. Embrace Automation. We’ve talked about this on, well, too many occasions to count.

Cash Flow 68

Cash Flow Contractors Budgeting Budget 68

Contractor Bookkeeping

AUGUST 11, 2014

The banker said his Profit & Loss, Balance Sheet did not look right to him. His banker was a blunt and told him that if he wanted to stay in the construction business he needed to have accurate Profit & Loss, Balance Sheet and Job Costing Reports. QuickBooks Job Profitability Reports.

Profitability 48

Profitability Contractors Accounting Income 48

Contractor Bookkeeping

FEBRUARY 28, 2014

Your Construction Contracting Company. Is your Construction Company Process Dependent Or People Dependent? Is your Construction Company Process Dependent Or People Dependent? There is no one right answer; it depends on what you want from your construction company. Money Is The Main Reason You Own And Operate.

Profitability 48

Profitability Contractors Cash Flow Accounting 48

Pro Builder

APRIL 19, 2021

The construction industry has gone through an extensive transformation, and technology has completely changed the concept of how to drive more quality, productivity, and profit into projects. Construction management software is designed to serve different trade contractors including mechanical contractor services. 3) Estimating.

Software 52

Software Software Contractors Change Orders 52

Contractor Bookkeeping

AUGUST 4, 2014

Ever Wonder Why Some Competitors Seem To Have More Cash Flow And Profit Than You? 3 Innovate and improve continuously everything in your construction company. #4 3 Innovate and improve continuously everything in your construction company. #4 2 Develop a system to produce predictable results with ordinary people. #3

Profitability 49

Profitability Contractors Accounting Documentation 49

Construction Business Owner

AUGUST 30, 2011

Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. Construction Reporting. Construction Payroll.

Construction 169

Construction Software Software Accounting 169

ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. Let’s take a look: [content_upgrade cu_id=”4502″] Free Download: 6 Forecasting Best Practices All Construction Teams Need to Know[content_upgrade_button]Click Here[/content_upgrade_button][/content_upgrade].

Cash Flow 52

Cash Flow Contractors Budgeting Budget 52

Construction Business Owner

NOVEMBER 17, 2011

Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « Construction Equipment Management: Finding the Sweet Spot. I would love to know what communication tools you use most throughout your construction projects. INSURANCE |.

Construction 120

Construction Software Software Accounting 120

Autodesk Construction Cloud

OCTOBER 28, 2021

Every year, Autodesk University (AU) brings industry knowledge to light, leaving construction professionals from across the globe with a wealth of actionable insights. Modern construction cost management relies on connected workflows. Diversity is one of construction’s biggest opportunities. Top takeaways from AU 2021.

Autodesk 52

Autodesk Industrial Construction BIM 52

Autodesk Construction Cloud

JANUARY 6, 2022

What Collaboration in Construction Means. At its core, “collaboration in construction” simply means that teams are working together towards one project goal. But given the realities of today’s industry, how can construction firms effectively foster trust and collaboration? Challenges of Collaboration in Construction.

Construction 52

Construction Estimating Design Budgeting 52

Construction Business Owner

MARCH 29, 2012

Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « Lessons in Construction Leadership. The Business of Construction Risk Management » The Fundamentals of Building Information Modeling (BIM). INSURANCE |. EQUIPMENT |.

Construction 120

Construction BIM Software Software 120

Construction Business Owner

MARCH 22, 2012

Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « Form, Function and Construction Software. Lessons in Construction Leadership » Marketing Your Construction Business. Construction Marketing Basics.

Construction 120

Construction Software Software Accounting 120

Construction Cost Estimating

MAY 23, 2012

Construction Cost Estimating Blog. Job Simplicity is a comp l ete building & construction management software utilized to control the full phase from bid management, job costing, estimating, purchasing, scheduling, service coordination to building. Handle your schedules and request POs from the field on any handheld device.

Estimating 55

Estimating Software Software Sage 55

Contractor Bookkeeping

JUNE 18, 2013

We offer the following list of root causes for the extremely high rate of construction company failure which has accelerated beginning in 2009 and continuing as of June, 2013 when this article was written. The list below comes from working with hundreds of construction companies for over thirty years. The Contractor Paradigm.

Cash Flow 48

Cash Flow Construction Change Orders Contractors 48

ProcurementExpress.com

FEBRUARY 11, 2019

Construction teams face unique procurement challenges due to the complex nature of the business. It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. With that in mind, construction companies need to invest in a few things. Calendars and scheduling. Click Here.

Procurement 63

Procurement Plans Construction Budgeting 63

Contractor Bookkeeping

NOVEMBER 8, 2012

Why As A Construction Contractor - Do you want a resale certificate when all it does is cause you more paperwork? Of Course If Any Or All The Following Apply - To your company then it is not big deal; this isn’t for you: You have lots of money, no cash flow issues, and every one of your clients pay before you even ask.

Washington 48

Washington Certification Cash Flow Contractors 48

ProcurementExpress.com

FEBRUARY 11, 2019

Construction teams face unique procurement challenges due to the complex nature of the business. It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. With that in mind, construction companies need to invest in a few things. Calendars and scheduling. Estimation tool.

Procurement 52

Procurement Plans Construction Budgeting 52

ProcurementExpress.com

JANUARY 2, 2019

Let me tell you about Construction’s Secret Weapon. In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. 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.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52