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

This Podcast Is Episode Number 0103 And It Will Be About Contractor Cost Library A Cost Library Is Another Secret Successful Contractors Use To Generate Enormous Positive Cash Flow And Profit Money doesn't grow on trees; it grows inside your properly setup QuickBooks file that is maintained by people who understand construction accounting. All you have to do is follow the Contractors Success M.A.P. and in due time you can become wealthy. This article is going to cover one of the secrets we share with consulting clients known as The Cost Library.  A cost library is used to develop construction estimates and there are three basic types of cost libraries contractors use: Heuristics - And experience is the most common method since they are essentially shortcuts that reduce the mental energy or cognitive load of making a decision. Contractors also call them Rule of Thumb, SWAG - (Silly Wild All-Encompassing Guess), Past Experience, Intuitive Judgment or common sense. Excel Spreadsheets - Most common among contrac