Construction companies operate in a unique financial landscape. They have ongoing projects and costs that change, which can make it hard...

Have you ever wondered how construction project managers keep track of the progress of their projects? Well, one of the key tools they...

Creating an effective WIP report may be challenging. We've prepared this blog to simplify the WIP report's components with an infographic.

If you're a construction business owner, general contractor, or subcontractor and you're not reviewing a current WIP report at least monthly, you're flying blind on every active job. Work in Progress (WIP) reports are one of the most powerful financial tools in construction accounting and one of the most misunderstood. A single miscalculation can quietly drain your cash flow, put your bonding capacity at risk, and leave you scrambling at tax time. At CCA, we've worked with hu

In this guide, we discuss what construction work in progress (WIP) is, why work in progress reports are important, how to create WIP...

Overbilling can become an issue and may lead to a situation called “job borrow”

In the world of Percentage of Completion (POC) Project Accounting, two critical terms often dictate a contractor's financial health: overbilling and underbilling. While overbilling may signal potential risks, underbilling  is often the silent culprit, slowly eroding cash flow and distorting the true profitability of your projects. For Small to Mid-Sized Contractors (SMEs) , chronic underbilling reflects flaws in project accounting, turning earned revenue into cash you can’t a