Thu Mar 18, 2021 | Alan Lefkowitz | Accounting, Construction
Construction-in-progress (CIP) accounting is the process accountants use to keep track of the costs that relate to fixed-asset construction. Because construction projects necessitate a wide range of costs, CIP accounts keep construction assets separate from the rest of a company’s balance sheet until the project is complete.
Read MoreWed Mar 17, 2021 | Alan Lefkowitz | Bookkeeping Services, Cash Management, Construction, Financial Reporting
Construction accounting has unique challenges compared to many other types of business bookkeeping and management. Construction businesses frequently travel, incur specialized job costs for each construction project, and use unique processes to keep track of financial transactions. Unfortunately, construction accounting errors can be costly, which is why contractors must hire professional, knowledgeable accountants to manage their finances.
Read MoreMon Mar 15, 2021 | Alan Lefkowitz | Business, CFO Services, PPP
The COVID-19 pandemic forced many organizations to close quickly and lose revenue for an extended period of time, putting their ability to stay in business at risk. Many businesses did not have enough cash reserves to sustain the shutdown and unfortunately went out of business. Currently, we are helping businesses during these challenging times with two government lending programs, the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) as COVID relief options.
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