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...
by Shane Dick | Mar 20, 2023 | Construction accounting
In the construction business especially, banking is very important. Why? Because we have natural timing differences in costs versus billing. Additionally, sometimes we need financing for larger equipment and/or a fleet of vehicles. So it should be no surprise...
by Shane Dick | Feb 12, 2023 | Construction accounting
Today, we’ve got a super quick tip to help you control your construction costs. This is especially helpful with the rising costs we’ve been seeing in...
by Shane Dick | Jan 21, 2023 | Construction accounting
Today, we’re checking out our top 3 favorite reports to run in QuickBooks Desktop! These tell you all kind of important information that help you to run your construction company...
by Shane Dick | Nov 2, 2021 | Construction accounting
Calculating backlog is one of the most valuable insights for a construction company. It gives you visibility, overhead coverage and allows for decision making on markup on jobs. Calculating backlog while using the WIP schedule (the WIP schedule is the best tool for...
by Shane Dick | Oct 5, 2021 | Construction accounting
Percentage of completion accounting is the method in which determines the timing of when revenue is recognized. Not to worry – once you understand the concepts of percent complete accounting and its affect on construction earnings, you’ll see how powerful this is for...
