by Shane Dick | Oct 3, 2023 | Construction accounting
As a construction contractor, effectively managing your accounts receivable is crucial for maintaining financial stability and maximizing profitability. Delayed or unpaid invoices can create cash flow challenges and hinder your ability to meet financial obligations....
by Shane Dick | Sep 3, 2023 | Construction accounting
Running a construction business efficiently requires more than just the ability to build, manage projects, and satisfy clients. A solid understanding of construction accounting is crucial for making informed financial decisions, ensuring profitability, and maintaining...
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...
