Over the last year, the Paycheck Protection Program (PPP) has assisted numerous company owners, including general contractors, subcontractors, and small contractors, in keeping their operations running during the pandemic. However, PPP funding is just a short-term solution to the problems that many small companies are facing. Fortunately, there are other SBA programs available to both construction owners and their clients. SBA loans are available to construction industry memb
The best way to write off an invoice in QuickBooks systems – whether you are using QuickBooks Desktop or QuickBooks Online – is to use the credit memo feature. However, there are some additional steps to work in QuickBooks Desktop: Step 1: Checking Account Receivables Reports for invoices that would be written off 1. Open Reports menu 2. Find Customers & Receivables, then A/R Aging Detail 3. Look for which outstanding accounts receivables should be written off. Step 2: Prepar
Payroll for construction is always a problem that contractors always face. Even if you have other issues to worry about, employee compensation and employee salaries are always among your priorities. After all, salary management will directly affect the relationship between the company and its employees. This is also one of your biggest expenses, and it will also affect your company's cash flow. Because it directly affects the cash flow of construction companies, construction
How Is Construction Accounting Different? It can be said that accounting is a necessary part of every business to ensure the financial matters of the company. However, we need to know that construction accounting and regular accounting are two different types of accounting, even though both are based on Accounting Standards such as financial statements, balance sheets, ... For typical businesses, today such as selling stores will apply regular accounting. This is because the