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What’s the Difference Between Progress Billing and Lump Sum Invoices?
Billing is a critical aspect of construction project management. Selecting the correct billing method not only impacts your cash flow but...
6 hours ago4 min read
0
How to Set Up Progress Invoicing in QuickBooks for Contractors
Progress invoicing is more than simply a feature; it's a game changer for contractors. Whether you're building houses, remodeling...
1 day ago5 min read
3
Using AR Metrics to Predict Cash Shortfalls in Projects
Cash flow issues are prevalent in the construction business. Projects may appear successful on paper, but may still face financial...
2 days ago5 min read
1
AP vs. AR Reconciliation: What It Is and How to Do It Right
When it comes to managing your construction company's finances, AP vs AR reconciliation is one of the most crucial activities you can...
5 days ago5 min read
3
Cost-Plus or Fixed-Price Contracts, Which Is Better?
When it comes to managing construction projects, one of the most essential decisions you'll have to make is deciding what sort of...
6 days ago5 min read
8
Cost-Plus Contracts 101: Key Terms, Benefits, and Best Practices
In the construction sector, choosing the correct contract form is critical for risk management, financial stability, and building...
Apr 166 min read
10
Best Practices for Tracking Expenses in Cost-Plus Construction Contracts
When it is difficult to forecast project costs ahead of time, cost-plus construction contracts are frequently used. This contract type...
Apr 155 min read
7
The Role of Work-in-Progress (WIP) in Construction COGS
In the construction industry, tracking Work-in-Progress (WIP) isn't just a good practice—it's a necessity. When you're juggling multiple...
Apr 145 min read
11
Common COGS Accounting Mistakes That Could Trigger an IRS Audit
As a contractor, you're accustomed to handling a large number of moving parts—labor costs, material purchases, and the day-to-day...
Apr 115 min read
6
How To Manage COGS in Large-Scale Construction Projects
Managing the cost of goods sold (COGS) in large-scale construction projects can be a daunting task for contractors. With multiple moving...
Apr 105 min read
2
How to Boost Construction Profit Margins: 5 Essential Tips for Contractors
As a contractor, you are constantly thinking about expanding your profit margins. Maintaining a good profit margin might be difficult due...
Apr 95 min read
2
Performance Bonds vs. Payment Bonds: Understanding the Differences
In the construction sector, clear and trustworthy financial safeguards are essential for project success. Two types of...
Apr 85 min read
4
Fixed vs. Variable Overhead in Construction: What’s the Difference?
Overhead expenditures are a major component of any construction project. Whether you're an experienced contractor or a small business...
Apr 45 min read
17
Purchase Order Best Practices for Managing Construction Materials Efficiently
Keeping construction projects on pace and within budget requires efficient material management. Contractors who do not use a systematic...
Apr 36 min read
8
Mastering Cost-Plus Contracts: A Step-by-Step Guide for Contractors
Picking the right type of contract is important for managing the costs of a construction job and making money. One choice that stands out...
Apr 15 min read
22
How Estimate Bonds Improve Your Construction Business Credibility
Building trust with clients and winning projects in the cutthroat construction industry calls for more than simply excellent work....
Mar 314 min read
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Understanding Tax Codes and Their Impact on the Construction Industry
Tax rules might be intimidating, but they play an important part in how construction companies run financially. Knowing the correct tax...
Mar 284 min read
11
Revenue Recognition in Construction: What Contractors Need to Know
Understanding revenue recognition is one of the most important aspects of running a profitable and legally compliant construction...
Mar 276 min read
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