Construction Business Owner

OCTOBER 26, 2011

While there are numerous reasons to change software applications, there are two that regularly come up in our discussions with prospective clients: cash flow control and project cost control. Back to Cash Flow. Public Exposure and Liability on Construction Sites. Wally Evans Blog. Recent Posts. February 2009.

Cash Flow 120

Cash Flow Construction Software Software 120

Construction Business Owner

JANUARY 30, 2011

» Relationship between the designer and the contractor. One part of our industry that I simply cannot get my head around is the oftentimes adversarial relationship that exists between the building design professionals and the building contractors on a particular job. Public Exposure and Liability on Construction Sites.

Contractors 120

Contractors Design Software Software 120

Construction Business Owner

SEPTEMBER 27, 2011

A lot of contractors have asked me about Section 179. Most of these contractors are considering an investment in equipment or software, and they want to know if it can actually help their construction business. Public Exposure and Liability on Construction Sites. The Best Time to Go Live is…. Wally Evans Blog. Recent Posts.

Construction 180

Construction Software Software Accounting 180

Levelset

SEPTEMBER 7, 2022

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. For instance, a plumber who fails to properly lay a pipe could cause water damage that leads to an expensive repair for the general contractor.

Liability 52

Liability Insurance Injury Contract 52

Construction Business Owner

NOVEMBER 8, 2011

It crystallizes our mission to make contractors’ jobs easier and we put that mission into our own words: “When better is possible, good is not enough.” For instance, Foundation Software’s vision is this: “To provide the best in accounting software and service for the labor intensive contractor.” Wally Evans Blog. Recent Posts.

Construction 174

Construction Software Software Accounting 174

Construction Business Owner

JUNE 29, 2012

Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. The contractor doing the work was working for the city at the time. Points to Ponder: It is the contractor’s responsibility to create a work area and zone free from hazards that could cause injury or harm to persons or property.

Construction 120

Construction Safety Software Software 120

Construction Business Owner

AUGUST 30, 2011

You know, lots of contractors using an off-the-shelf accounting program ask me the same question: Why is construction-specific accounting software so much more expensive? Construction-specific systems allow contractors to instantly track and analyze job progress and performance. Public Exposure and Liability on Construction Sites.

Construction 168

Construction Software Software Accounting 168

Construction Business Owner

APRIL 1, 2011

One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs. Public Exposure and Liability on Construction Sites.

Cash Flow 120

Cash Flow Construction Software Software 120

Contractor Magazine

MARCH 18, 2014

Previously, we discussed some ways to improve cash flow within a company. This evolved from a question that was posed by contractors on a message board regarding the difference between profits and cash. It’s the financial statement that summarizes the company’s assets, liabilities and equity at any moment in time.

Cash Flow 51

Cash Flow Accounting Contractors Equity 51

Construction Business Owner

OCTOBER 26, 2011

I know a lot of contractors are getting into bidding season, and this got me thinking about communication. I know from my days as a general contractor that plans and specifications are altered continuously as subcontractors become involved, materials are changed, and change orders are issued. And then you wait. Wally Evans Blog.

Construction 159

Construction Software Software Bidding 159

Construction Business Owner

JANUARY 18, 2012

Mid-January is a time of reflection for many contractors. Public Exposure and Liability on Construction Sites. Home » Blogs. « “How good do you want to be?” ” Pardon the Commercial Interruption… » Year-End Wake Up Call. Creating year-end financial reports. Closing your general ledger. Recent Posts.

Construction 168

Construction Software Software Accounting 168

Levelset

JULY 25, 2022

Working capital measures the difference between a construction company’s current assets and current liabilities. Businesses whose assets (like cash, accounts receivable, inventory, or materials) exceed the value of their liabilities (like wages, debts, vendor payments, or overhead costs) have working capital to use to maintain or grow.

Debt 97

Debt Cash Flow Equity Finance 97

Construction Business Owner

NOVEMBER 22, 2011

Many contractors go into business because they’re great at what they do. I know a successful excavating contractor that took over his father’s grave digging business when he was younger. Public Exposure and Liability on Construction Sites. Wally Evans Blog. Recent Posts. Is There No Free Lunch or Construction Software?

Construction 159

Construction Software Software Accounting 159

Construction Business Owner

FEBRUARY 16, 2012

» Contractors Seeking Credit Should Prepare to be Prepared. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Many contractors negotiate payment due dates with their vendors to get themselves out of short-term cash binds.

Banking 120

Banking Construction Cash Flow Finance 120

Lets Build

DECEMBER 2, 2022

It requires written standards that can be referred to at any time by employees, sub-contractors, and clients alike. If a sub-contractor tried to pass off second-rate bricks, or if lines of communication with the client temporarily broke down, lessons can be learned for future instances.

Management 156

Management Construction Risk Cash Flow 156

Construction Business Owner

JUNE 29, 2012

Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Contractors need to proactively evaluate and address how project teams – including subs and vendors – are communicating. Public Exposure and Liability on Construction Sites. Home » Blogs.

Construction 136

Construction Documentation Software Software 136

Construction Business Owner

APRIL 2, 2011

For those of you contractors doing government work: relish the competition involved with bidding. Public Exposure and Liability on Construction Sites. Even if you’re already good at what you do, competition is healthy. Competition is what makes us strive for success, what makes us work harder and what makes us want to be the best.

Construction 159

Construction Software Software Accounting 159

Construction Business Owner

AUGUST 19, 2011

One of my favorite parts of this job is getting to talk with professionals in the industry who work with contractors for a living. And, let’s face it: the kind of individual driven to be a general contractor is often not the kind that relishes tedious office work and long hours spent analyzing numbers. Wally Evans Blog. Recent Posts.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

MAY 29, 2012

Contractors in today’s marketplace are caught in the middle of a paper and paperless culture. Many contractors haven’t taken advantage of digital document solutions, and the ones that have are still dealing with high volumes of data. Public Exposure and Liability on Construction Sites. Wally Evans Blog. Recent Posts.

Construction 120

Construction Software Software Cash Flow 120

Construction Business Owner

JANUARY 6, 2011

There is just something special about being around contractors. One of the things I enjoy most about my position at ComputerEase is that I have the opportunity to deal with different contractors everyday and have the opportunity to help them with their construction software needs. Public Exposure and Liability on Construction Sites.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

JULY 12, 2012

« Public Exposure and Liability on Construction Sites. Let’s look at a few important improvements that most contractors can make. It’s obviously to your advantage if your partners have easy access to your project documents – from owners or other contractors employing you to the subs and vendors you employ.

Construction 136

Construction Documentation Software Software 136

Construction Business Owner

OCTOBER 10, 2011

What happens when construction expert George Hedley gathers 15 different contractors from all over the country, puts them in a room for 2 days and leads an open discussion? Ideas start flowing and problems are solved. What I can tell you is encouraging: There are contractors who are succeeding in this economic climate.

Construction 120

Construction Software Software Accounting 120

Autodesk Construction Cloud

FEBRUARY 25, 2022

Evaluating a subcontractor’s health before awarding work has become more important than ever for general contractors. Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Formula: Current Assets / Liabilities . Days of Cash on Hand . Current Ratio .

Safety 94

Safety Debt Liability Equity 94

Construction Business Owner

JANUARY 19, 2011

Relationship between the designer and the contractor » The Difference Between Selling Used Cars and Selling Software. They just plod along telling unsuspecting contractors that their software can do everything imaginable. Public Exposure and Liability on Construction Sites. Construction Business Owner Magazine.

Construction 136

Construction Software Software Accounting 136

Construction Business Owner

JUNE 20, 2011

One of my favorite books is Good to Great by Jim Collins, which crystallized our mission to make contractors’ jobs easier, characterized by the quote, “When better is possible, good is not enough.” Public Exposure and Liability on Construction Sites. Wally Evans Blog. Recent Posts. Is There No Free Lunch or Construction Software?

Construction 149

Construction Software Software Accounting 149

Construction Business Owner

FEBRUARY 17, 2011

I know a lot of construction business owners (especially contractors who have grown their small businesses into medium-sized companies) who were once “digging graves with a shovel.” Public Exposure and Liability on Construction Sites. Especially if your company grows, and there’s a lot more, well, digging to do. Wally Evans Blog.

Construction 149

Construction Software Software Accounting 149

Levelset

JUNE 6, 2022

Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor.

Accounting 98

Accounting ABC Banking Liability 98

Construction Business Owner

JANUARY 12, 2012

I was in a conference room full of general contractors a couple of years ago, and the presenter asked, “How many of you prequalify your subcontractors?” When I was a general contractor, I sent out invitations to bid, but the communication didn’t end there. Public Exposure and Liability on Construction Sites. Wally Evans Blog.

Bidding 149

Bidding Construction Documentation Software 149

Construction Business Owner

APRIL 4, 2011

Contractor, do for me? It is up to us, the contractor, to shape the message effectively and communicate to the client what the building will cost, an estimated time line to completion and any inherent issues that need to be addressed as early in the project as possible. Public Exposure and Liability on Construction Sites.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

FEBRUARY 16, 2012

« Contractors Seeking Credit Should Prepare to be Prepared. Public Exposure and Liability on Construction Sites. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. Wally Evans Blog.

Construction 136

Construction Software Software Accounting 136

Construction Business Owner

APRIL 19, 2012

Connection between our company and our customers, between industry peers, between contractors and their project teams. Public Exposure and Liability on Construction Sites. We are in the final week of preparing for our annual Users’ Conference , and I couldn’t be more thrilled. Our conference theme this year is Connection. Recent Posts.

Construction 120

Construction Software Software Conference 120

Construction Business Owner

APRIL 5, 2012

Contractors work in the middle of a chain of risk passed onto them. Even if this doesn’t become an actual source of profit in and of itself, contractors who actively work to understand and control risk are in a position to make smarter project decisions that lead to higher profit margins. Wally Evans Blog. Recent Posts.

Risk 120

Risk Insurance Construction Software 120

Construction Business Owner

JANUARY 26, 2012

Venture tools are built to give contractors visibility and control over three key areas of construction operations: Documentation. I remember the amount of time I used to spend as a general contractor following up on project notifications and issues. Public Exposure and Liability on Construction Sites. Communication.

Construction 120

Construction Software Software Documentation 120

Construction Business Owner

FEBRUARY 1, 2011

« Relationship between the designer and the contractor. Public Exposure and Liability on Construction Sites. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. Don’t Dig Your Own Grave! » My How You’ve Grown! 26 years old. Recent Posts.

Construction 136

Construction Software Software Foundation 136

Construction Business Owner

JULY 26, 2012

With web-based software, these mobile devices are capable of running complete versions of a company’s enterprise software, resulting in real-time information flowing freely from the field to the office and a true collaborative environment. Contractors and software vendors alike keep looking for better ways to connect the two.

Software 136

Software Software Construction Documentation 136

Contractor Bookkeeping

SEPTEMBER 25, 2013

When You Hire A 1099 Contractor They May. Having a contractor’s license is not proof enough you are a business verses an employee. If you hire a 1099 Contractor (Specialty or Trade Contractor) they just become your employee in the eyes of the tax agencies. When a being a licensed contractor is just not enough!

Contractors 49

Contractors Cash Flow Washington Compensation 49

Construction Business Owner

OCTOBER 12, 2011

Public Exposure and Liability on Construction Sites. Tags: accounting , construction , contractors , features , foundation , job costing , software , support. You deserve a great support system, so make sure you do your research when looking into new construction accounting software, or any software for that matter! Wally Evans Blog.

Construction 120

Construction Software Software Accounting 120