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Cg 500 Manufacturersinstalling Contractors Report Form : Customize, Finish and forward

hi my name is a dead spider and I'm the.founder and CEO for a company called.chief financial officer on-the-go we all.call ourselves CFO one ago and today I.want to show you what I think are three.cost reports every owner or controller.or CFO ought to be looking at at least.on a monthly basis if not more often I.really don't care what software you used.to do it we actually going to show it in.a sage product but you can do by hand if.you wanted to I wouldn't want to do that.myself that you could but I'm going to.show you a couple of reading and I'll.tell you the reasons why we do some of.these reports this is one I used to do.actually literally I did this by hand.and then I went graduated to excel and.then obviously to a construction.solution but this is a what we call job.billing summary it's for one project by.a task of tasks of work we call cost.codes comb work items what my contract.was what I go she ated to get paid what.I build today what's being held in.retention and what my net billing is and.then a percent build but in addition to.that I have my budget plus my change.orders and I have my cost a day and a.percent complete so let's just go to a.skip down here to the bottom that two.line 6100 I've build 5,000 but I've got.job cost of 12,000 so this item shows me.as minus seven thousand dollar cash flow.as at this point and so that may be.right or it may be wrong but at this.point if I'm in the process of preparing.my monthly billing I will come in here.and check off this item to make sure it.winds up on the next billing or is it a.mistake could I maybe have charged.something to the wrong cost code and by.the way that happens a lot more often.than you think.so if I double double click this in this.system I can actually see what got.charged to that item to make sure that.those items actually belong there an.example hi used to have hot-mix charge.concrete items and concrete charge the.hot mix items and vice versa so as a.controller I spent a lot of time.reclassifying things to make sure that.our cost and variance analysis were.accurate so this is a great piece to.start because I can see my cash flow by.item nice to see during a job a really.positive that you know the thing to look.at at the end of the job to make sure.you actually got the cash flow that you.expected anyway not rocket science here.this is something you could do in Excel.but you'd have to rekey the numbers in.each week or each month but you could do.this something very similar to this in.Excel the other one that I think is.important is that we call a committed.cost report and I'm gonna use the same.job actually and I don't know if you've.ever noticed this and I'm not picking up.QuickBooks don't tell them I'm picking.on them but in QuickBooks a lot of times.you'll you'll have a job and you'll be.almost complete and you're looking at.the job you say minutes this is a good.job I get you know fifteen percent.margin on this job and then the month it.closes you might be like 11% or 12% and.then two months later it's down to nine.percent and a couple months after that.it's down to 2% and you can't figure out.why well a lot of the reasons are.because if you're using subcontractors.or material vendors they're not exactly.the most timely people in submitting.their invoices and so what we do in this.report is we again by cost code we have.the budget we have the cost of date.which I can drill down on again but we.also remind you of all of the purchase.all of these I'm sorry sub contracts.that have been issued but have not been.built to us yet and all of the purchase.orders that I've written that have not.been billed to us yet or entered into or.they may have been billed would haven't.been entered into the system they're.sitting in a pile someplace or behind.the file cabinet or what have you but.the bottom line is I know what my budget.remaining is all along the job I know.what I've committed my company to as a.jobs progressing so most systems and.especially some of the non construction.packages like quickbooks peachtree i can.go through a whole bunch of other ones.but.they don't keep this in play they don't.remind you the commitments or purchase.orders you just see this and in most.times you're going to go home and think.you're doing really well in the meantime.somebody across the hall or in the field.during the large subcontract to complete.that item or add a biomaterial.additional material for the job so this.is an issue that we see all the time.we're bonding companies especially look.at the margin fade on projects and in.this case we can keep that from.happening by reminding you of your.outstanding commitments so anyway.something you may also want to take a.look at the last report I want to look.at and I think when I was preparing to.do this this is probably wound up being.a video all by itself at some point in.time there's so much that can be covered.in an over-and-under billing report and.I'm just going to do all jobs here um so.here's the deal and I don't know again.the easiest way to explain this but.let's just say you got a brand new job.this month you started the work you.spent pick whatever number you want you.spent oh let's say you spent 60.something thousand dollars but you'll.get to build it for another week or two.so when you do your financials at the.end of the month let's say you started.it on the 25th you crude you know what's.the cost on that job let's say again.let's just use ten thousands is a simple.number you spend ten thousand buying.some materials for the job in ordering.them and you had a pay form up front so.you charge that job ten thousand dollars.but you haven't built your client yet.because you can't build until the 15th.of the following month for example did.that job lose $10,000 no slip on the.other side let's say that you went out.and picked up a contract and you got a.down payment for $10,000 and you haven't.ordered anything yet so now you invoice.10,000 so you have $10,000 of income.sitting in your income statement and.they'll cost offset it did you make.$10,000 this month no you didn't and so.what this does the over-and-under.Billings and I'm not going to go into it.because it does it automatically but.there's there's.generally accepted accounting principle.that says that a taking the cost that I.spent versus my my budget I can figure.out what percent complete I am and I'm.allowed to earn that much of my budget.against revenue and I'll accrue that.cost or I can accrue revenue against the.cost based on the margin I have on that.job so it's it's not that complicated.but it's something that we have 1500.maybe just over 1500 clients and a lot.of times when we get a new client we ask.him about this and they say oh no that.my CPA does that and he does it at the.end of the year well Devin for 11 months.that your statements were going up and.down up and down and up and down and at.one time in a year you're right.my contention here is this is not.complicated it's not that hard to do is.you should be doing it every month so.that you have financial statements that.don't show those spikes and those big.valleys because it's probably because.you build or had additional costs come.in that you haven't billed for yet so.anyway I know the report a lot of.construction software systems just this.was as you saw just two mouse clicks it.tells me what I'm under build on these.jobs I'm over built on these jobs and if.I come down the end I'm going to make a.journal entry to record these and my.revenue is going to go up because I'm.under build by almost a million dollars.okay so my financial statements as they.stand before this journal entry would.say I lost a million dollars plus and.now when I book this journal entry I'm.actually going to be adding a million.dollars of revenue back in there so.again three reports as a former CFO for.one hundred one hundred fifty million.dollar companies again we work with 1500.construction companies across the u.s..either offering of some of the CFO.advice or software support I really.think that these are the three reports.that if you don't have your you're.definitely deficient and what you're.looking at and your competitors have.better information than you do so anyway.hopefully that helps again my name is.Dennis our website's WWC fov on-the-go.net.easy to find is we have tons of white.papers that will explain a lot of these.things we have a great book if you're.interested called seven secrets of.successful contractors it's about the.long Thompson's I've rated but it's.probably 25 to 30 pages consider sent to.you as a PDF but it's seven secrets that.we think contractors that we know are.successful successful or using today.I don't know how why it hurts to send us.an email we'll send it to you if you use.it great if you don't that's fine as.well but I think if you implement some.of those secrets you'll watch your.margins Grill anyway thanks for your.time.

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How come no-one filled out our survey? I sent out a Google Form from Gmail. Out of 500, not one responded..

Hey Andrew, your suggestions make sense, however I suppose these are things I considered and checked prior to sending out the survey.. Here it is, check it out pls: RemoteGuest Survey My sense is it ends up somehow in their junkmail folder and I don't know how to get around it. If I send bulk mails from Gmail, do they show somehow? Are they maybe automatically end up being spam mail? Thx

How do you fill out a W2 tax form if I'm an independent contractor?

A W-2 is a record of employment earnings. Independent contractors issue W-2 forms for their employees. An independent contractor would not receive a W-2, because the independent contract is not an employee.

How can I fill out Google's intern host matching form to optimize my chances of receiving a match?

I was selected for a summer internship 2016. I tried to be very open while filling the preference form: I choose many products as my favorite products and I said I'm open about the team I want to join. I even was very open in the location and start date to get host matching interviews (I negotiated the start date in the interview until both me and my host were happy.) You could ask your recruiter to review your form (there are very cool and could help you a lot since they have a bigger experience). Do a search on the potential team. Before the interviews, try to find smart question that you are Continue Reading

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