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The Many Faces of Construction Job-Costing

happy with job costing system

Income minus expenses equals gross profit. Your gross profit is the amount you use to run your company and create profits. Job-costing is how you can track the income and the costs you incur to perform each of your jobs. It’s how you get to see the gross profit you earn on each of your projects. Your perception of what you want to see from a job-costing system may be very different than another business owner’s concepts. Why? Because there is no single prescription that fits everyone’s needs.

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Labor Profit Tip #5: The Secret to Making Better Hiring Decisions

Labor Burden Information Tip #5: Make Better Hiring Decisions by Thoroughly Understanding Potential Additional Costs Bad hiring decisions can have a devastating effect on your bottom line, so you want as much objective data at your fingertips as possible before you hire. You can use labor burden calculation information as a starting point when it’s …

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Labor Profit Tip #3: Your Gross Profit numbers may be misleading

Labor Burden Information Tip #3: To See Accurate Job-Cost Reports, Assign Labor Burden Costs to Each Job. If you’re looking for ways to make your company more profitable, getting a handle on your fully burdened labor costs is a critical place to start because it can show you how to: Estimate labor costs more accurately, Price jobs to …

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9 Ways to Take the Pain & Suffering Out of Tax Time

It’s That Time of Year Again – TAX TIME! And guess what? I’ve been working with clients who have been turning their numbers over to their tax accountants starting the middle of January! Do you dread January, February, March – and beyond – because those months seem to turn into “Franken-tax” time? Are you asking …

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QuickBooks Items: The Secret to QuickBooks Job-Costing

This post about QuickBooks items is based on our more extensive training video of the same title in our Construction Accounting & Management Program (CAMP). Why are QuickBooks Items Especially Important for Construction Companies? QuickBooks Items let you track, and report on, the financial detail underlying what’s REALLY going on within the financial side of …

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The Worst Training You Can Buy (And Waste Your Time On)

You Found the Perfect Seminar… It’s the training resource you’ve been looking for to make the changes you want in your company. The main problem – your QuickBooks company file was set up wrong from day one. You’ve been making do, but haven’t been getting the job-costing information you need. Now you’ve found the solution …

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A Tale of 4 Companies: A Job Cost & Gross Profit Percentage Drama (Part II)

Paul (of Paul’s Perfect Projects, LLC) tackles the gross profit problem by showing Dave his Estimate vs. Actual variance reports.  (If you haven’t already read it, you’ll want to visit Part I of this “Tale of 4 Companies: A Job-Cost & Gross Profit Percentage Drama” before jumping into the following “Part II”…) Paul’s Approach to …

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