Sample Construction Business - Red Rock Construction

Business Profile:

• General contractor specializing in home remodels and renovations
• 3 full time employees
• 2-3 continuous projects at any given time
• 1 line of credit, 2 credit card accounts, and one business checking account

Account Setup:

Red Rock has all of their online accounts setup in Mvelopes Business. A corporate bank account, 2 credit cards and an account at a credit union. Mvelopes Business automatically downloads all the transactions from all of these accounts. They have also setup an offline cash account to track the cash that is used for miscellaneous items.

Operations Setup:

Red Rock currently has three construction projects setup in Mvelopes Business. Each of these projects has 9 envelopes to track various types of expenses and income such as rentals, fees, labor and materials. Mvelopes makes it easily see the cash flow and profitability of each project. In the detail view for each project you can compare what was budgeted for each envelope (Planned) compared to the actual amount spent.

Overhead Setup:

Red Rock has overhead expenses split up into 8 groups like auto, taxes, payroll and utilities. Then each of these groups is broken down further like the auto group is broken down to fuel, insurance, maintenance and truck payment. This helps Red Rock effectively control all overhead expenses and make sure that hidden spending is not going unnoticed.

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