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#174220 - 01/29/08 01:46 PM Help keeping track of $ on residential work
bwise121 Offline
Member

Registered: 09/11/03
Posts: 113
Loc: Sacramento, CA USA
Up to this point I've pretty much done small jobs and service work. I just got roped into a large remodel (electrical +30k not including fixtures) and the change orders are piling up. I'm guessing the change orders are up to 10k or so. I'm finding it difficult to keep track of the change order credits/debits for rough and trim parts. I made a spread sheet in excel and have been religiously keeping track of it but I'm wondering if there is any examples or ideas you guys can share with me.

Thanks,
Byron

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Business, Office, Estimating, Legal:
#174235 - 01/29/08 07:05 PM Re: Help keeping track of $ on residential work [Re: bwise121]
Redsy Offline
Member

Registered: 03/28/01
Posts: 2138
Loc: Bucks County PA
bwise,

I use excel also. The hardest part for me is stopping to note the extras and then finding time to enter everything as soon as possible.

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#174262 - 01/30/08 04:07 PM Re: Help keeping track of $ on residential work [Re: Redsy]
Tiger Offline
Member

Registered: 05/04/05
Posts: 714
Loc: Crystal Lake, IL USA
If you get the money for COs in advance, all you have to do is look at your deposit slips. Otherwise, your CO should spell out the change in total dollars.

Dave

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#174267 - 01/30/08 04:30 PM Re: Help keeping track of $ on residential work [Re: Tiger]
leland Offline
Member

Registered: 08/20/07
Posts: 856
Loc: Lowell area, Ma. USA
I have done change orders NET 30. This stems the flow and helps to keep track.Treat anything above the contract as service.

I will addmit, I have not owned a project with thesae #s.

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#174276 - 01/30/08 07:46 PM Re: Help keeping track of $ on residential work [Re: leland]
macmikeman Offline
Member

Registered: 07/16/02
Posts: 718
Loc: Honolulu, Hawaii
bwise, here comes your mactip, and a little speech. Tip: have a premade change order sheet supply with you at all times when doing full size jobs. At the very least, in your truck. Each and every change or extra should be written up, priced, and signed by a party who is authorized to sign for it. I said "should be" because that is in the perfect world. In reality you will face all sorts of arm twisting to get you to just jump in, do the work, and forget about that nasty change order business. The ones who do the twisting have all sorts of excuses why it is a bad endevor to disembark upon, chiefly they hold out carrots of future contract work with them. When they try that, it is best to suddenly reply "Geez, your delay in completing this transaction has resulted in additional cost, so now let me rewrite it and add that back into it."
Always try to get the full payment prior to doing any of the actual change work. This does not apply to any full fledged goverment or big work job, since they are never handled that way. But the signature on the paper is still tantamount to the operation. Take the completed and signed paperwork back to your office each day, use a two hole punch to punch out the top, and hang it on a two hole clipboard. I also use Excel spreadsheets for each project to track co's , but all I have to do to double check the payment progress is reach up to the clip board. Unpaid ones are still on it, paid ones are marked and filed into the job folder. That is the best way to keep track.

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#174324 - 02/01/08 05:30 PM Re: Help keeping track of $ on residential work [Re: macmikeman]
LK Offline

Member

Registered: 01/21/03
Posts: 1721
Loc: New Jersey
not much to add, but I can't stress eniough how important it is to get them signed and approved by the person doing the payments, we try to get payment in advance, if not 10 days at the latest, enything past that and good luck on collecting anything.

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