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

Managing cash flow is the single greatest challenge in the construction industry. The gap between incurring costs (labor, materials) and collecting payment (often delayed by retainage and billing cycles) creates a constant liquidity risk. To thrive, contractors must adopt strategic financial controls that go beyond basic accounting. This article will describe strategic solutions for construction business owners and credit managers to move from reactive crisis management to

If you're in the construction industry, understanding how to solve cash flow problems is essential for maintaining a healthy business...

Managing cash flow has never been an easy job. For construction businesses, it’s even worse. It’s crucial that mid-size and small construct

Starting a small construction business is not a walk in the park, especially if you're juggling fewer than 20 employees. Like many small...

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

What is Progress invoicing? Let’s take the scenario at the beginning of the blog. The contractor sent over the estimate and started...

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

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

Accounting and financial management is a challenging task in all industries. Cash Basic Cash basic accounting is the easiest and simplest...

Running a construction business means constantly juggling job sites, materials, crews, and client demands. The last thing you need is financial chaos . Modern cloud accounting platforms are specifically designed to give small to mid-sized contractors the control, speed, and accuracy needed to maximize job profitability. Here are the three core benefits of leveraging specialized construction accounting tools: Real-Time Control from the Field (24/7 Access) The profitability of

On June 5, 202, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law. The PPPFA makes a handful of significant...

In order to earn a success in Construction industry, we need a broader understanding about effective Construction Accounting and expense...

1. Access everything 24/7. In the field or on location Manage job costs Stay on schedule and stick to a budget. Easily track time and expenses for each project. Run valuable profit and job cost reports to always know where you stand. Automate accounting tasks Your data quickly and securely syncs across devices so you never have to fool with paperwork. Add tools and apps Create AIA-compliant invoices, track working crews with GPS, track time on the phone, and more. 2. Get p

1. Review the Requirements of PPP Congratulation! You got a PPP loan for your business. Before using, let’s review all the requirements...