Managing a hectic schedule and complex projects can be challenging if you're a contractor. You must also ensure that your paperwork, documents, and contracts are in order. It's essential to keep a paper trail of your work and practice due diligence.
Keeping all your working documents in order shows that you treat your business, customers, and subcontractors responsibly. This is a mark of professionalism and can also help if you have an insurance or legal claim.
Contractor paperwork documentation and procedures
You should develop documentation and record-keeping procedures appropriate for your contracting operation or service if necessary. Once procedures are in place, it is equally important to ensure everyone understands and follows them.
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Topics:
Construction Bookkeeping,
Construction Bookkeeping And Accounting,
Bookkeeper,
contractor bookeeping services,
Contractor Guidance
A new contractor meets an experienced customer, and money changes hands and not the way you expect it.
Typically, this is what happens when you first get started: You bid on a project, and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the project that will cause you ever to have to reread the contract.
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Topics:
Construction Bookkeeping,
Processes,
Contractor Challenges,
Contractor,
contractor bookeeping services,
Contractor Tips
Owning a construction business means you understand that bookkeeping is just one of those mundane, nasty, dirty, aggravating, grubby little chores you get stuck with along with its rotten scoundrel cousin the Monthly/Quarterly Tax Reports.
If you have employees - look out! On top of everything else you have payroll to process, in some cases, you may decide to provide cash advances to your employees to keep them focused on the job and not on personal issues, and finally there are all the Payroll Taxes you need to keep track of and file the reports for on a regular basis.
Smart Contractors know their time is more valuable spent meeting prospective clients, putting together bids, managing job sites, and a whole lot of other things other than bookkeeping. So they find someone else to do it.
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Topics:
Construction Bookkeeping,
Processes,
Contractor Challenges,
Contractor,
contractor bookeeping services,
Contractor Tips
Owners of small construction companies like you are the men and women who keep everything moving in the right direction. When the economy changes, you quickly adapt because you are a survivor, not a large giant behemoth dinosaur unable to respond promptly and dies in its tracks.
Most articles about Job Costing are for large contractors with dozens of employees, doing millions of dollars in sales every year. This article is not about them; it is about you!
Job Costing links the money you spent on a job against the money you received to do a particular job.
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Topics:
Construction Bookkeeping,
Processes,
Contractor Challenges,
Contractor,
contractor bookeeping services,
Contractor Tips
Choosing From Many Construction Accounting Solutions Available
Finding a solution that will do “All I Need It To Do” This is the challenge for Construction Contractors.
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Topics:
Job Costing In QuickBooks,
Cloud Based Bookkeeping Services,
contractor bookeeping services
It's the Holiday Season which means everyone is so busy thinking of everyone else.
Wrapping up the end of the year, getting one more thing done that makes sense. I want to be the person who says Merry Christmas! You have earned it. Many of Holiday movies are variations of “Scrooge” based on “This Is Good” and “That Is Bad.” Anyone who has not had any challenges in life has been either extremely lucky or in a very protected bubble.
Congratulations To You Construction Contractor On Your Success!
Please send me all your extra four-leaf clovers. If your favorite Happy Leprechaun is not too busy, I will take a little extra Magic. I can never have too much Magic or Sunshine.
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Topics:
Merry Christmas,
contractor bookeeping services
