Job Costing in QuickBooks Online for Contractors in 2025
Why Job Costing Matters for Contractors Contractors operate on thin margins, juggling labor, materials, subcontractors, equipment, and overhead on every project. Without a robust job costing system, you risk quoting too low, eroding profitability, or quoting too high and losing bids. Something as simple as setting up job costing in QuickBooks Online might help simplify […]
Profit First: Is It Right for Your Contractor Business?
Running a successful contractor business requires careful financial management and a focus on profitability. One method that has gained popularity in recent years is the Profit First method. This approach, developed by author and entrepreneur Mike Michalowicz, aims to prioritize profit in your business by changing the way you allocate your funds. In this article, […]
Driving Growth: The Essential Key Point Indicators for Contractors
Image Source: Unsplash Key point indicators for contractors can be what make or break a contracting business. As a contractor, you know that to gain sustainable growth, it’s super important to have a good understanding of the factors behind that growth. This is where Key Point Indicators (KPIs) can come in handy. KPIs are measurable […]
Contractor Balance Sheets: What to Focus On
Contractor balance sheets play a vital role in providing insights into the financial health and stability of a contracting business. For contractors, understanding the nuances of balance sheets and knowing what to focus on can be crucial for making informed financial decisions. In this blog post, we will delve into how contractor balance sheets might […]
Contractor Income Statements: What To Focus On?
As a contractor, understanding your income statements is crucial for managing your finances and ensuring the success of your business. Your income statement provides a snapshot of your business’s financial performance over a specific period. In this blog post, we will delve into the key components of contractor income statements and what contractors should focus […]
How to Apply Profit First to a Contractor Business
As a contractor, you’re constantly juggling multiple aspects of your business, from managing projects to handling client relationships. Amidst these responsibilities, your business must remain financially healthy and profitable. One effective way to achieve this is by implementing the Profit First for contractors methodology, specifically tailored to the unique needs of contractor businesses. In this […]
Contractor’s Dilemma: Choosing the Right Bills to Pay First
As a contractor, managing your finances can often feel like a juggling act. With various expenses and bills piling up, it’s crucial to prioritize your payments effectively to maintain a healthy financial balance. In this blog post, we’ll explore some practical tips to help you determine which bills to pay first, ensuring that your business […]
Tracking Bills in QBO: Useful or Not?
As a tradesman, keeping track of bills can be a hassle. With countless expenses ranging from equipment and supplies to gas and travel costs, managing finances can quickly become overwhelming. However, QuickBooks Online offers a streamlined solution to effortlessly manage and track your bills in one convenient place. So, why should you track your bills […]
Why Setting Money Aside Now Will Give You a Better Winter Season
t can be easy to get pulled into the excitement of the busy season. Your schedule is getting filled up, as is your bank account. You and your crews are all over the place, doing estimates, setting up jobs, completing jobs, and all the fun stuff that comes from a busy summer. It’s so easy […]
How to Build a Cash Reserve in Your Business
You know you should be saving money in your personal life. But dis you know that you should also be setting aside some money in your business? You can then use this as a cushion and to protect yourself from unexpected expenses. This can also make sure you don’t have to get a loan. Getting […]