Tag: Construction

Many contractors prioritize business financial management over personal wealth management. It's an easy trap to fall into given how competitive the construction industry can be. Let's discuss some ways to manage your wealth while you Read More

Your neighborhood ice cream shoppe no doubt operates under a simple fixed price, point-of-sale billing method. Construction companies don't have it so easy. Because of the project-based, decentralized nature of construction work, contractors need to Read More

While many businesses handle sales in a single transaction, construction contracts often cover months or even years and include multiple payments. As you're well aware, the longer-term nature of construction projects can prevent contractors from Read More

The construction industry has been facing a labor shortage for years. Although there are various ways to tackle the challenge, one approach to keep in mind is expanding your hiring pool to, in part, avail Read More

While there is a perception that accounting firms spend all their time looking in the rearview mirror to prepare taxes and financial statements, the right accounting firm can help you see where you’re going with Read More

Construction accounting is distinctively complex. Unlike other businesses that rely heavily on a general ledger to track finances, construction companies need to master a project-based approach to accounting. After all, each of your jobs serves Read More

Running a successful construction company calls for more than just winning bids and doing great work. To get ahead and make money, you need to carefully track your costs and accurately calculate how much to Read More

As you're no doubt aware, accounting for builders is challenging. Construction companies tend to have unstable workforces, wage rates that can change by location, and multiple ongoing projects with various costs and durations. Here are Read More

From the Great Recession of more than a decade ago to the ongoing COVID-19 pandemic, construction companies have endured some tough lessons over the years. To help you avoid learning some things the hard way, Read More

Processing payroll is a critical administrative task that directly ties to your construction company's labor costs, profits and ability to comply with labor laws. Yet staying on top of payroll can be daunting. Depending on Read More