About Elizabeth Boals
Elizabeth Boals is the owner of Beyond Books Solutions, which is a remote bookkeeping solution and advisory service that helps small business owners -- and
specifically contractors -- grow their business, achieve financial control and a piece of mind.
Elizabeth has a Masters in Accounting and is a QuickBooks Certified Pro Advisor. She has also been a small business manager for over 10 years, so she knows
how hard it is for a business owner to carry all the weight and perform multiple tasks at the same time.More...
specifically contractors -- grow their business, achieve financial control and a piece of mind.
Elizabeth has a Masters in Accounting and is a QuickBooks Certified Pro Advisor. She has also been a small business manager for over 10 years, so she knows
how hard it is for a business owner to carry all the weight and perform multiple tasks at the same time.More...
Elizabeth Boals's Recent Answers
Nov 22, 2019
From an Anonymous Contractor
TexasAccountant at Beyond Books Solutions
Retainage is usually billed separately at the end of the job, and the retainage invoice is often just a standard, non-AIA invoice. It is billed separately because
those 5-10% is all that should be owed at that point, so you would have a better cash flow during the project work. Hope this helps. Let me know if you any
more questions, Elizabeth Boals
those 5-10% is all that should be owed at that point, so you would have a better cash flow during the project work. Hope this helps. Let me know if you any
more questions, Elizabeth Boals
Jan 24, 2020
Jan 24, 2020
From an Anonymous Contractor
WashingtonAccountant at Beyond Books Solutions
The best structure that has worked for my clients is to require Deposit to start the job and then progress invoicing. This way your client is funding their own
projects and you are not drowning in debt. Progress invoicing is usually outlined in the contract and is split up either evenly 30/30/30/10 something like this, or
by phases which is my preferred method. I hope this is helpful! Let me know if you have any other questions!
projects and you are not drowning in debt. Progress invoicing is usually outlined in the contract and is split up either evenly 30/30/30/10 something like this, or
by phases which is my preferred method. I hope this is helpful! Let me know if you have any other questions!
Nov 20, 2019
From an Anonymous Contractor
New YorkAccountant at Beyond Books Solutions
Each project is different and may require a different amount of the overhead. Usually you would add up indirect costs like indirect materials or indirect labor
first. Then you would compute the overhead allocation rate. For example, if you use indirect labor, you would divide total overhead by the number of the
direct hours. The third step is to apply the overhead by multiplying the rate by the number of the direct labor hours of each project. Hope I underSee More...
first. Then you would compute the overhead allocation rate. For example, if you use indirect labor, you would divide total overhead by the number of the
direct hours. The third step is to apply the overhead by multiplying the rate by the number of the direct labor hours of each project. Hope I underSee More...
Details
Location
Florida
Years of Experience
9
Expertise Area
Construction Accounting