The percentage of completion method calculates the ongoing recognition of revenue and expenses related to longer-term projects determined by the proportion of work completed. By using this method, a company can recognize any gains or losses related to a project during...
Payroll will always be one of the top priorities for any company. After all, its management directly impacts the relationships with its employees and the quality of work. Unfortunately, construction payroll is one of the most unique and complex payrolls due to the...
It is valuable for those in the construction industry to understand the lien process, especially since securing your lien rights can protect payments on private construction projects. Unfortunately, the lien process can involve several forms, documents, and notices....
No matter what business you are in, making a profit is likely one of your overriding goals. Even small businesses utilize a basic accounting ledger to record income, expenses, assets, and liabilities. However, for more complex companies, job costing is a unique...
Construction accounting is more complex than regular business accounting. In addition to traditional accounting activities like accounts payable, accounts receivable, and payroll transactions, additional actions are also required like retention, job costing, change...
