Worker’s Comp and payroll taxes take a huge bite out of a contractors profit when working on Public Works construction projects – especially if the contractor is paying the full fringe benefit rate of the prevailing wage to the employee in cash and not to the Union Hall or into bona-fide plans.
Public Works Construction and Prevailing Wage projects require advanced financial planning methods and tools along with an understanding of the ever-changing compliance requirements — so that you can reduce your overhead and get paid on time. Continue reading
In 2012 it is mandatory that we show the company share of employee health insurance on W-2's, do you know if there is there a way in QuickBooks to track this on a regular basis, so that it shows on the employees paystubs and then have it flow through onto the W-2 at the end of the year? Continue reading
QuickBooks Payroll, when properly set up, is capable of tracking and including the cost of your General Liability Insurance in job costing reports. Continue reading
This week’s QuickBooks eBook provides information, tips and training for setting up a system to track Subcontractors Workers Compensation and General Liability Insurance expiration dates. Continue reading
Unlike some of the more costly construction specific software programs out there, QuickBooks wasn't designed to prevent us from generating a check to a Vendor/Subcontractor whose General Liability or Worker's Compensation insurance has expired. Continue reading
Sam Subcontractor already uses QuickBooks, he has more complex job costing needs due to certified payroll reporting requirements, payments of prevailing wage fringe benefits and AIA billing. High overhead costs, specialized equipment, materials, labor charges are other things… Continue reading