The CSI (Construction Specifications Institute) MasterFormat contractor item list is a standard item list used for most commercial building design and construction projects in North America. It lists titles and section numbers for organizing data about construction requirements, products, and activities. The latest version, revised in April 2012, contains 48 main categories or divisions. Two readers have asked questions recently about the CSI MasterFormat list - here's what they had to say. Continue reading
Breaking down payroll by job, phase, and cost code is something that I'm often asked about by the construction clients/customers that I work with. Construction payroll is probably one of the more complex payrolls that anyone can encounter, see this question submitted by a reader - and my suggestion on how to resolve this. Continue reading
Construction payroll can be complex and many business owners wonder if they should hire a payroll clerk and issue payroll in-house or if they should outsource it.
As a contractor a significant portion of your job costs involve payroll and labor burden (payroll taxes, worker's compensation insurance, general liability insurance, company paid fringe benefits etc.) and you need to have these numbers included in your job costing reports so you can analyze your bidding practices and know whether or not you made a profit on the job. If your payroll is not run through your accounting software you loose this vital piece of job costing information. Continue reading
The certified payroll report that your company submits to a general contractor, project owner, or contract administrator should contain information about your W-2 employees, the ones that work directly for you, are paid via payroll checks issued by your company and who you provide a W-2 for wages earned at the end of the year. When you enter into a formal contract for a portion of the prevailing wage/government funded construction project with a subcontractor, the subcontractor will submit a certified payroll report from his company to yours, listing their employees, the work classifications they fell under, hours worked on the project, wages, taxes, deductions, etc. Continue reading
Learn to use QuickBooks in your construction business is a new support and training site provides answers and techniques that are not available in the QuickBooks® Help file or even even QuickBooks® conferences designed for accounting professionals. Continue reading
How do you know when you can expense a tool and when you should capitalize a tool and depreciate (expense) it over time? Guest blogger Joyce M. Washington provides you with some tips. Continue reading
10 articles from the web on General Business, Bookkeeping, Accounting, Payroll & Taxes, Construction, Marketing and Social Media Continue reading
When it comes to choosing and implementing QuickBooks Add-Ons for their construction company, many contractors turn the project over to someone else. This unfortunately is one of the major reasons that this type of project fails. Continue reading
Ten interesting articles relating to General Business, Bookkeeping, Accounting, Payroll & Taxes, Construction, Marketing & Social media. Continue reading
Join industry experts; Steve Kuzmack, President of Fringe Benefit Experts and Nancy Smyth, President of Sunburst Software Solutions, Inc. for an intensive 2 hours session on strategies for lowering labor costs and complying with certified payroll reporting requirements on Federal and/or State funded construction projects. Continue reading
Top 10 Tuesday - QuickBooks News & Tips, Construction News, Business, Social Networking, Customers and Website tips from around the web. Continue reading
A QuickBooks tip about issuing joint checks to a subcontractor and a lower tier subcontractor or material supplier for payment for work completed on a construction project.
Top 10 Tuesday Tips from around the web include QuickBooks News & Tips, Tax News, Construction News and Business, Social Networking, Customer & Website Tips Continue reading
Current and future tax law changes will make the role of your construction company’s CPA more important – not less. Continue reading
There are many ways in which people will handle Change Orders when using QuickBooks, such as just going to the original Estimate and changing the dollar amounts of the affected items. This is a "quick and easy fix"; however, it doesn't leave a good documentation trail. Continue reading