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Accounting Avoidance

Accounting Avoidance

Accounting Avoidance Builders as much as bakers need to know where the money is coming from and where it is going. If you are to run a construction company, you must have accounting systems for recording and analyzing your income and expenses in an organized way. Only then will you be able to understand your company’s financial performance and get it up to par. Unfortunately, many builders neglect or avoid their accounting responsibilities. During their start-up years, some simply do not yet grasp the importance of accounting as a tool for managing their business and do not give the task the priority it deserves. More seasoned builders, while glimpsing the truth that accounting is integral...

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Best Practices

Assigning the Project Team

Assigning the Project Team

Assigning the Project Team One of the very first tasks that must be taken care of by the project manager is putting together the project team. Depending on the size and complexity of the administrator, general superintendent (maybe even an assistant superintendent) and at least one field engineer....

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Construction Management

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Tech Corner

Quick Tips On Implementing New Technology

Quick Tips On Implementing New Technology

There are so many quick tips on Implementing new technology. New technologies can be great for your company. It can increase productivity, increase sales, and make your company better all around. Unfortunately there is also much baggage associated with the adoption of new technology. Many of us...

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Building Your Business

Identifying Overhead Costs

Identifying Overhead Costs

Identifying Overhead CostsIdentifying overhead requires, first of all, tracking it in your accounting records. From your accounts, you can pick up your disbursements for both fixed and variable overhead. But like direct costs, overhead includes slippery items - in particular three costs that won’t...

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Estimating and Bidding

Estimating and Bidding

Gathering InformationCapable builders do not roughly estimate/guesstimate the costs of building projects they submit to clients. They calculate the costs. They figure the charges. They nail down those numbers and get them right.  You will hear all kinds of rationalizations for sloppy estimating...

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Insurance

Insurance

Insurance To succeed financially as a builder you need to not only earn a fair salary and profit job after job, but you also need to avoid having money go back out the door in big chunks on completed jobs as a result of sloppy practices, errors, and accidents.  You need a comprehensive and clear...

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Building a Project Binder

Building a Project Binder

Gathering InformationTo calculate costs for a project, you need information from many sources - plans, specifications, the site, subcontractors, and suppliers. All of that information must be gathered efficiently, then organized so that it can be readily accessed when the time comes to sit down...

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