December is approaching fast, and for construction business owners, that means year-end close is coming. While your crews rush to finish projects before the holidays, your back office faces an equally critical deadline closing your books correctly. The difference between a smooth year-end close and a chaotic one isn't just convenience. It's real money. Tax penalties, missed deductions, cash flow problems from inaccurate WIP schedules, and audit risks can cost tens of thousand

In the construction industry, success is often measured solely by the Profit and Loss (P&L)  statement. However, while the P&L offers a snapshot of profitability, it doesn’t tell the full story. Construction firms operate in a complex environment where cash flow, debt management, and operational efficiency are key to long-term sustainability. Without proper attention to Financial Ratios, contractors risk remaining unaware of deep-seated financial issues that could jeopardize

In construction, cash flow is the lifeblood  that keeps projects moving. Without steady inflows, even well-planned projects risk delays,...

In the construction industry, trust and reliability aren't just built on project performance—they're also measured by your numbers....

In today's fast-paced construction industry, it takes more than technical know-how and field supervision to oversee multiple jobs at...

Maintaining correct financial records is crucial in the construction sector for project performance and overall profitability. The Chart...

As a contractor, you work hard to finish jobs, manage cash flow, and keep your company going smoothly. However, bond claims and financial penalties can disrupt your business and result in severe losses. To avoid these issues, you must use strategic planning, good construction bookkeeping, and adhere to best practices. This book will help you understand the dangers, apply preventative tactics, and limit the chance of surety bond claims that could harm your reputation and finan

Accounting in construction is more than just recording money; it is also about understanding how to minimize costs, remain on budget, and...

For construction companies to stay on top of their finances, plan ahead, and make the best use of their resources, they need to be able...

It’s important to have a good idea of your finances when running a construction business. A construction company is the core entity...

Running a construction business requires significant cash flow to cover materials, labor, and equipment costs. However, many contractors...

Managing your construction company's finances might be stressful. Between progress billing, task costing, and revenue recognition, it's easy to lose sight of what's happening. However, one way stands out for its capacity to assist contractors accurately portray their financial performance: the percentage of completion  approach. In this article, we'll go over what the percent of completion method is, how it works, the benefits and hazards, and why it's important for contracto