Remove Cash Flow Remove Inventory Remove Work in Progress
article thumbnail

Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Speed Up Receivables. Use Financing to Provide a Cushion.

article thumbnail

Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Speed Up Receivables. Use Financing to Provide a Cushion.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

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. WIP is one element of an inventory account. Well, not exactly.

article thumbnail

Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

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. WIP is one element of an inventory account. Well, not exactly.

article thumbnail

Electrical Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

Inventory Tracking - Can be a nightmare and we have a system for it. 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. Work In Progress (WIP) Reporting. Job Deposits - Customer down payments can be input several ways.

article thumbnail

Plumbing Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

Inventory Tracking - Can be a nightmare and we have a system for it. 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. Work In Progress (WIP) Reporting. Job Deposits - Customer down payments can be input several ways.

article thumbnail

Commercial Tenant Improvement Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

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!