By Tammy Hoang, QuickBooks ProAdvisor | Construction Cost Accounting | calendly.com/tammycca/30min Every construction owner I work with has a CPA. What most of them do not have is a construction bookkeeper who makes that CPA relationship actually work. Here is what I mean. Your construction CPA is a tax professional. Their job is to prepare your tax returns, minimize your tax liability, advise on entity structure, and represent you if the IRS ever comes knocking. They are ess

By Tammy Hoang, QuickBooks ProAdvisor | Construction Cost Accounting | calendly.com/tammycca/30min Every month, construction business owners receive a set of financial statements from their bookkeeper or accountant. Most of them look at two numbers — revenue and net income — and move on. The rest of the report sits unread. This is one of the most expensive habits in construction accounting, because the numbers that actually tell you whether your business is healthy are not th

By Tammy Hoang, QuickBooks ProAdvisor | Construction Cost Accounting | calendly.com/tammycca/30min Ask most construction owners about their creditors, and you will get a general answer — the subs, the suppliers, the equipment rental company. Ask them which creditors are past due right now, by how many days, and on which specific jobs, and the answer gets a lot less clear. This is one of the most common and most expensive gaps in construction bookkeeping. Creditors are the bus

By Tammy Hoang, CFMA, QuickBooks ProAdvisor | Construction Cost Accounting You found a bookkeeper who says they know Procore. They probably don't — not at the level your jobs require. Procore is not accounting software. It is a project management platform that connects to your accounting system. A bookkeeper who has clicked around in Procore's dashboard is not the same as one who has configured the ERP integration, mapped your cost codes, managed the accounting approver workf

By Tammy Hoang, CFMA, QuickBooks ProAdvisor | Construction Cost Accounting If your crews are managing jobs in Procore and your books are in Sage 100 Contractor or QuickBooks, you are probably entering the same data twice. Change orders go into Procore for the project manager and into Sage for the bookkeeper. Subcontractor invoices get processed in the field and re-entered in the office. Job costs sit in Sage until the monthly close — which means your project manager is making

Stepping into construction bookkeeping without industry experience? You're not alone and you're walking into a minefield. Without construction-specific knowledge, even experienced accountants from other industries make costly mistakes that drain thousands from every project. These aren't minor errors you can fix later, they're systematic profit leaks that compound over time, turning what should be profitable jobs into financial disasters. The challenge? Construction accountin

Cost-plus contracts have become a critical tool in industries where project costs can be unpredictable, such as construction, defense,...

When it comes to the construction industry, managing finances and bookkeeping can often appear as an uphill battle. However, with...

Do you own a construction business? If so, you know it is a tricky task. Your role as an industry leader involves smart money management....