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Month: November 2018

Business – Constructing Efficient Systems – Bookkeeping Systems Are Vital For Success

Posted on November 12, 2018 in Uncategorized

If you do not have a good bookkeeping system it is very easy to lose money and not know that this has happened. You will also waste a great deal of time trying to figure things out when it comes to month end or income tax time. You can either use a manual or computerized system but will likely find that a good computerized system will soon pay for itself in the time that it saves you and the efficiency it provides.

Following are the basic functions that you will need in your bookkeeping system:

Income – You will need to record all of the money that comes into your business. Some will be received from your clients on the same day that you provided them with goods and services. They will usually ask for a receipt for their money. Other contracted services will need to be invoiced for the hours and amount they owe you. Besides this you may receive money from refunds or other sources which will need to be recorded.

A computerized system allows you to set up customer files which will store names, addresses, contact information and notes about each of the people with whom you offer services.

Banking – Your bank will likely provide you with a deposit book and bag which you can use to make you deposits. If you are computerized, there will be a function that allows you to deposit money and print out the deposit slip.

Accounts Receivable – You not only need to know who owes you money but also how long it has been that the amount is due. Sending them statements as well as invoices will remind them of the amount and the delinquency period.

Expenses – When you purchase items you will need to record the amount that you owe and then pay by cash, cheque or credit card. It is important to sort the expenses into categories so that you know how much you have spent in each at the end of the year.

Computerized bookkeeping packages allow you to enter information about vendors, remind you of the date that payment is due and then prepare reports sorting the items into categories.

Asset and Liability Records – The things that your business owns and the debts it owes are important figures not only for Income Tax purposes but also when it comes to determining the financial health of your business. You will likely want to have a schedule that will allow for depreciation of assets over a few years.

Payroll – If you or any of your staff is on salary, you will need to accurately record gross, deductions and net amounts. As well, certain remittances will need to be made to the government or other organizations on behalf of employees.

Financial Statements – Your accountant will need to prepare your Financial Statements from information that you have recorded throughout the year. The documents that you will receive will likely include an Income and Expense Statement, Balance Sheet, Net Worth Statement and Income Tax forms.

As a solo professional it is very important that you know what your financial situation is at all times so that you can make good decisions and the adjustments necessary to improve your bottom line on an ongoing basis. This can best be done through review of reports on a regular basis and a computerized system is therefore likely more convenient for accomplishing this.

I do all the financial functions in my business on a daily basis and know every single day exactly what was received, paid out and how that compares with the previous month and year.

Having good business financial information allows you to have control of your situation and that presents you with a wonderful adventure every day.

Important Tips in Creating Construction Logos

Posted on November 11, 2018 in Uncategorized

The field of construction involves building of construction sites or assembly plants for industries. Recently, we have seen a boom in this sector of business as companies are progressively rising in this industry. The main reason for such growth is the high profit gains in the construction business. But like all businesses, construction companies also need an identity to display themselves in the marketplace. For that purpose they need a logo design that will accurately represent their company mission and values. Construction logos are used for businesses that build houses, plots and other industrial units. Since there are so many businesses of the same genre out there, one must possess an identity that will make you stand out from the rest of the pack. One must create a valuable impression on the clientele by signifying that your company is the best in the construction business. Some of the major qualities of a construction logo is honesty, steadiness, firmness and integrity.

  • Colors of Construction Logos:

Since construction logos must exhibit a feeling of security and safety, they should not incorporate too many colors. One must remember to use those colors that signify a soothing and stable effect. Formal colors like brown, magenta, red and white are some colors that are employed in the making of identities for construction companies. Moreover, your colors selection must be captivating and inspiring for clients.

  • Fonts of Construction Logos:

While making construction type logos for companies, make sure that the font you use are appropriate and suitable. Since the logo depicts the company’s name and its mission to the people, it must exhibit sobriety and graveness. Also make certain that the typefaces you employ are formal, simple and straightforward. Moreover, make the fonts bold, highlighted so that it is more prominent. Some of the commonly used are the Serif and Helvetica fonts in these types of identities.

  • Style of Construction Logos:

There are two basic styles of creating logos for construction businesses. Firstly, you can create a design with a literal symbol in it. Using literal symbol means that you employ signs that are related to landscaping and construction. The symbol must be synonymous with the company. On the other hand, another style of making construction logos is to employ abstract symbols. In this method, you don’t necessarily have to exhibit building signs, but you can use conceptual signs that denote a message about the business.

The Best Time for Small Business Expansion and Construction Is In a Downturn

Posted on November 9, 2018 in Uncategorized

When is the best time to do tenant improvement or TI work? Well, might I suggest to you that when the economy is tough, you’ll find yourself with more competitive bids from less-than-busy construction companies willing to give you a low price merely to stay busy and keep their guys working?

You see, not long ago I was at Starbucks and I was talking to the wife of a construction company owner who told me that they had lost their home, and were trying to keep their business alive and keep their guys working, doing anything to stay afloat. They were taking little jobs, and anything they could get until the economy returned. Okay so let’s talk.

We’ve all heard the government facts and figures that state that the economy is getting better, but in reality for many people in many industry sectors that doesn’t appear to be the actual reality. Still, there is always opportunity and chaos for someone if you look hard enough. Small Business owners are also going through a tough time just as the construction companies are. They don’t have the money they need right now to expand their business, or do improvements, but perhaps both can help each other out at this point.

A small time construction company with a decent reputation that is hurting for cash flow might be willing to do the work at near cost just to stay in business, meaning a small retail store might be able to get a once in a lifetime deal on their construction. As the economy returns to firing on all cylinders again, providing it does actually recover, it won’t be this inexpensive in the future. Those high costs of construction and tenant improvements will go back up just like everything else in our economy. Why not take advantage of all the chaos and controversy in the construction sector?

Interestingly enough the construction workers may actually do a better job because they are not rushed, and they don’t need to complete job to get onto something else, they don’t have any other work. They might also do the best job possible, hoping for referrals at this point. So I recommend? If you have a small business, this might be the time to do a build-out, a little TI, or some expansion. What you need to do is sketch out a plan of exactly what you want, in great detail, and offer the job to five or six construction companies which are local.

You don’t even have to take the lowest price because most of the bids will come in lower than you would’ve expected due to the economic pressure in the construction sector. Just pick the best one, one you can afford, and you will have accomplished a great task while your business is slow, before things return. The worst time to do construction is when lots of customers are coming to your store every day and you’ve made a mess of I due to all the construction. Do you see that point? Please consider all this and think on it.