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Most MEP contractors think: Profit = What you bill the client. 💡
This single misconception causes massive tax-time surprises and cash flow headaches.
Here is a quick example:
📍 The Numbers (Month 6):
• Contract Value: $1,000,000
• Total Estimated Cost: $800,000
• Actual Costs Spent So Far: $400,000
• Amount Billed: $450,000
❌ The Old Way (Invoicing Method):
Reported Profit = $450k Billed – $400k Cost = $50,000
(Makes your business look weak to banks and bond companies!)
✅ The POC Way (Percentage of Completion):
• Work Finished: 50% ($400k spent ÷ $800k total cost)
• True Earned Revenue: $500,000
• Real Profit = $100,000
• Unbilled Work (Asset) = $50,000
3 Traps to Avoid:
Invoicing % is NOT the actual progress on site.
Ignoring cost overruns drops your profit instantly.
Approved change orders left unbilled drain your margins.
POC is not about paper math—it’s about clarity & true financial health.
Are your field updates from Procore or Knowify syncing smoothly into QuickBooks, or is WIP reporting a monthly headache?
📩 Message me or drop a comment below—let's review your job costing setup!
#ConstructionAccounting #MEPContractors #JobCosting #Procore #QuickBooks
The network for creativity
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Connect with clients, get discovered, and run your business 100% commission-free
Creatives on Contra have earned over $150M and we are just getting started
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So crisp, clear, and beautifully done!
Payroll Pro is a web-based payroll management system built on Bubble.Problem it solves: Small businesses struggle with manual salary calculations, tax deductions, and payslip generation.
Key Features:
1. Add and manage employees with full details
2. Automated salary calculation with tax and deductions
3. Generate and download professional payslips
4. Monthly payroll reports and analytics
How I built it: Built from scratch on Bubble with responsive design.Used Bubble's database for employee data and workflows for calculations.This app helps business owners save 10+ hours per month on payroll tasks.I built Payroll Pro on Bubble to help small businesses automate payroll in minutes.
From employee data to payslips - all in one place. #BubbleChallenge #NoCode
don't forget to include a demo video in your submission!
A client said everything was wrong. That phrase can stop a project, but it is rarely the full story. For me, it usually means something specific is missing or an important assumption was overlooked.
On a recent project, a client said, "This isn't it. You did the wrong thing entirely." My immediate thought was not panic, but curiosity. I offered a short, 5-minute call. He agreed.
The real issue wasn't a total rejection of the work. It was two specific things that weren't acceptable to him. During the call, we quickly identified those two issues. We fixed them on the spot. He paid and left happy. It reminded me that active listening is a better tool than trying to guess the client's mood from their email. The five-minute call saved three weeks of email exchanges.
