Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

  This Podcast Is Episode Number 0240 And It Will Be About Construction Accounting Secrets For New Contractors Construction Accounting Basics For Construction Contractors Construction Accounting is not a natural mindset for Construction Contractors. Construction Accounting has own language. Regular Accounting the language is Income Minus Expenses Equals Net Profit. Construction Accounting is Income Minus Cost of Goods Minus Overhead Equals Net Profit. That simple little thing called Cost of Goods Sold is the primary difference between Regular Accounting and Construction Accounting. Understanding that difference and how it relates to Job Costing and Job Profitability can get contractors like you firmly on the road to financial freedom. Then comes Construction Accounting. Income is added up to have Total Income. Cost of Goods Sold included more than the cost of material. Total Income less Total of Cost of Goods Sold equals Gross Profit.   Expenses include a variety of overhead related items. Gross Profit less