Your profit and loss statement shows a healthy profit for the year. But when it's time to make payroll or pay your suppliers, the cash isn't there. Sound familiar? This disconnect between profit and cash flow frustrates contractors every day. You're profitable on paper, but constantly stressed about money. The problem isn't your job costing or your estimating. The problem is you're not using your balance sheet to manage your business. Most contractors focus intensely on job c

In construction accounting, accuracy matters. One of the most misunderstood and often overlooked red flags in contractor books is the...

If you’re a construction accountant or contractor attempting to make sense of your company’s finances, one thing should be clear: precise...

As a contractor, your balance sheet is more than simply a requirement for lenders and tax authorities; it's a critical tool for assessing...

A very important part of construction accounting is keeping track of work-in-progress (WIP) , which has a big impact on the bottom line...

Understanding the best practices for preparing a construction balance sheet  is essential for contractors who want to maintain a clear...

In the world of the construction business, a general ledger (GL) is like your financial journal. It keeps track of every penny flowing in and out. You can view the general ledger as your company's financial storybook. We will get into the specifics of a general ledger construction this post, discussing its importance, how it works, and why the construction industry needs one. Table of Content: What is Inside a General Ledger? How Construction Businesses Use a General Ledger

Every successful business owner knows how important it is to keep an eye on their business's finances. One indispensable tool for this...

Accounts receivable are valued and reported on the balance sheet. But what is a balance sheet anyway? A balance sheet is a financial stateme