by Shane Dick | Aug 1, 2023 | Construction accounting
Everyone knows that building material costs have been rising like crazy. According to information at a recent conference I attended, these costs went up 21% in the year 2021! When we put our estimates together and then go to actually do the job, if our costs...
by Shane Dick | Jul 4, 2023 | Construction accounting
Have you ever found yourself wondering if you need a CFO? Here’s a quick overview of five reasons why it’s really handy to have one on your side! Job Profitability When you have a CFO, they can help you align your costs with your estimating and really create that...
by Shane Dick | Jun 6, 2023 | Construction accounting
Construction accounting is very complex. In “regular” accounting (as I like to call it), there are debits and credits, chart of accounts, and general ledgers. Well, in our industry we have all of that, PLUS a laundry list of all the other items that we have to...
by Shane Dick | May 2, 2023 | Construction accounting
Cash flow is a normal problem for construction contractors – even in a profitable business! There are some pretty straightforward explanations for this. We have an accumulation of costs before we get the billings, so this timing difference naturally creates a...
by Shane Dick | Apr 2, 2023 | Construction accounting
Bonding is very important for our business in construction. Many of our contractors have to have a strong bonding program in order to get work. Beyond that, during times of financial instability, project owners rely on bonding for security – probably more than...
