Builders, Budgets, and Beers
The mission of The Builders, Budgets, and Beers Podcast is to make project financials less intimidating for commercial and residential builders. We aim to give builders the confidence to take control of their business' cashflow by bringing on guests, that our listeners can identify with, to share real stories of their financial wins and losses along their journeys as builders.
Builders, Budgets, and Beers
Establishing an efficient cost coding system with Penny Lane
Penny Lane, a construction accounting expert, discusses the importance of designing a simple yet effective chart of accounts and cost coding system for contractors. She emphasizes using these financial tools to track profitability, make informed pricing decisions, and ultimately run a more successful construction business.
https://jobcosting.com/
Construction accounting, chart of accounts, and cost coding with a specialist. (0:00)
Chart of accounts for contractors, including types of accounts and how they relate to financial reports. (3:50)
Job costing and accounting for direct and indirect costs. (9:50)
Accounting for construction costs, including cost of goods sold and indirect costs. (14:59)
Simplifying accounting systems for contractors, focusing on cost codes and chart of accounts. (21:42)
Breaking down job costs into subcategories for easier tracking and analysis. (25:57)
Organizing financial accounts for contractors to track profitability. (30:58)
Profit margins, markups, and cost structure for contractors. (35:13)
Construction accounting basics and how to use financial data to make better business decisions. (39:57)
Find Our Hosts:
Reece Barnes
Matt Calvano
Podcast Produced By:
Motif Media
