Better Practices For Managing And Maintaining Your Business Cash Flow
Posted by Sharie DeHart on Fri, Sep 29, 2023
Topics: Cash Flow, Bookkeeping, Contractor Cash Flow Problems, QuickBooks Construction Accounting, Improve Construction Cash Flow
How To Increase Your Construction Business Profit In Three Months
Posted by Sharie DeHart on Fri, May 19, 2023
Topics: Construction Cash Flow, Cash Flow, Construction Accountant Who Listens, Contractor Cash Flow Problems, Contractor Tips, Improve Construction Cash Flow
Unlocking The Secrets Of Small Construction Business Cash Flow
Posted by Sharie DeHart on Fri, Apr 28, 2023
Cash is king! Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Inflows for your Construction Company primarily come from selling goods or services to your customers, but keep in mind that inflow only occurs when you make a cash sale or collect on receivables. Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest.
Outflows for your Construction Company are generally the result of paying labor, material, other direct and indirect costs of goods sold, and overhead expenses.
Topics: Construction Cash Flow, Cash Flow, Construction Accountant Who Listens, Contractor Cash Flow Problems, Contractor Tips, Improve Construction Cash Flow
Seven Tips To Help Your Construction Business Adjust For Inflation
Posted by Sharie DeHart on Fri, Jan 27, 2023
This can lead to operating at a loss - spending more money than you make. Otherwise, you will eventually run out of cash reserves and be out of business. And while it's not uncommon, especially for new companies, it's still not ideal and shouldn't continue in the long term.
Topics: Construction Bookkeeping And Accounting, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability, Inflation, Construction Business Inflation
The Advantages of Paperless Payroll In Your Construction Company
Posted by Sharie DeHart on Fri, Jan 13, 2023
You won't find a contractor using inefficient tools on the job site these days. The hammer or the nail gun? No question. While every contractor recognizes the flaws of using ineffective tools, they may still be losing money due to inefficient payroll tools and processes.
As with most things, payroll is going digital – for a good reason. There are many benefits to digital payroll for construction business owners and staff alike. Read on to learn why switching to paperless payroll could be right for you.
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability
Year-end Closing And Planning For Construction Business Owners
Posted by Sharie DeHart on Fri, Dec 30, 2022
Preparing your End of Financial Year (EOFY) information often feels stressful—there are receipts to sort out and reports to review. You must ensure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting.
The end of the financial year isn't just a time to collect receipts and find invoices. It's also a time to reflect on how your past year went, what went well and what didn't, and what you can change for next year.
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability
Key Drivers To Improve Construction Profitability And Cash Flow
Posted by Sharie DeHart on Fri, Dec 09, 2022
Enlightened contractors like you understand the value of developing your own unique Construction Contracting System, a collection of documented repeatable processes and operation manuals. The key is continuously refining your construction company's practices and procedures.
Your office ensures your contracting company has a steady flow of projects. Proper accounting and bookkeeping develop timely financial reports to show which jobs are profitable so you can pursue more. Thus, you can focus more on the following:
- Acquiring the right clients
- Doing the project as close to on time and on budget as possible
- Get job deposits and timely progress payments
- Follow-up with clients to monitor satisfaction and line up new projects
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability