erhaps one of the most important topics that all construction companies need to consider, indirect costs require proper tracking and allocation to achieve financial success. Every construction business knows “their cost” because it affects project bids directly;...
Construction finance experts must constantly overcome unexpected challenges due to the abnormal complexity of the clients and markets that they provide services to. At any given time, a job site could be suspended, or short-term setbacks could create labor shortages...
While there may be many similarities, construction accounting is often vastly different from regular business accounting. In addition to the standard payroll, accounts receivable, and accounts payable, construction companies must account for job costing, progress...
For construction companies, it can often be challenging to determine which metrics are most important for effectiveness. Between P&L statements and never-ending balance sheets, it can be easy to get distracted and lose focus of what these numbers mean for the...
Since construction contracts are typically long-term with delayed payments, contractors are rarely able to complete, bill, and collect on a contract in the same month. In fact, for many contractors, this never happens. With multiple accounting options to choose from,...
