Whether you’re using QuickBooks Desktop or QuickBooks Online, managing bad debts is crucial to maintaining accurate financial records. In...

it is essential for you to write off the uncollectible invoices.

Construction projects always require a large number of funding sources, including costs related to office space, equipment, materials

This is the most used and helpful report for contractors. By showing both estimate and actual cost and estimate and actual revenue, this rep

It can be said that accounting is a necessary part of every business to ensure the financial matters of the company.

For construction businesses, it's even a huge difficulty. Therefore, we will suggest books related to construction accounting to help you.

An Expense is a rent, phone bills, website hosting fees, office supplies, accountant fees, trash service, janitorial fees, etc.

Let's talk payments. Do you prioritize timely payments? The secret lies in timely invoicing. Especially for those in the Construction...

In the construction industry, financial transparency is crucial for decision-making, business planning, and attracting investors. Two of the most important financial statements that construction companies rely on are the Balance Sheet  and the Profit & Loss (P&L) Account . These two financial documents are fundamental in understanding the financial position and performance of a company. This article will clarify their differences, roles in construction financial reporting, an

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

It’s Friday afternoon. Your crew just wrapped up another big project $400,000 in revenue, $75,000 profit on paper. But your checking account is nearly empty. Payroll hits Monday, and the numbers just don’t add up. If that sounds familiar, you’re not alone. Over 80% of construction business failures are caused by cash flow problems, not lack of work. The culprit usually traces back to the same root: inaccurate estimating . An accurate construction estimate is more than a price

In the fast-paced world of construction, business owners need to grasp the intricacies of construction accounting, particularly...