Accounts payable remains one of the most challenging aspects of construction finance. Beyond the inherent risk of errors in A/P workflows, the cost of processing invoices significantly exceeds that of other business operations. Research indicates that manually processing a single invoice from receipt to payment costs between $10 and $22  – a substantial expense that compounds with volume. This leads to a frequent question: "If we already have QuickBooks Online, do we really n

Your balance sheet is one of the most scrutinized financial statements in construction. Lenders review it before approving loans. Sureties analyze it before issuing bonds. Project owners examine it before awarding contracts. When negative liability accounts appear on your balance sheet, it raises immediate red flags that can cost you opportunities and credibility. Understanding why negative liabilities occur and how to fix them isn't just about clean bookkeeping. It's about

Managing Accounts Payable (AP) in a construction company is a vital part of maintaining the company’s financial health and ensuring smooth project execution. Accounts payable in construction company refers to the money owed to suppliers, subcontractors, laborers, and other service providers for materials, labor costs, and general business expenses. Proper accounts payable management helps construction firms keep track of their payment records, avoid late payments, and mainta

As a contractor, your focus must extend beyond the job site to securing your financial foundation. While managing crews and projects is essential, mastering Accounts Payable (AP)  is the unsung hero of cash flow and profitability. For a construction firm, AP is not a simple liability; it's the core system for tracking Cost of Goods Sold  and managing legal compliance. Failing to properly manage this area from correctly allocating costs to handling complex lien waivers and ret