Wed Mar 17, 2021 | | Bookkeeping Services, Cash Management, Construction, Financial Reporting

Accounting for Construction Companies: The Basics


Accounting for Construction Companies

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.

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Fri Feb 5, 2021 | | Cash Management, Construction, Financial Reporting

Increase Your Commercial Construction Profit Margin Now


commercial construction profit margin

If you are in the commercial construction industry, you have probably struggled with profit margins in the past. Unfortunately, profit margin depends on several factors outside of your control, and some years tend to be more profitable than others.

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Sat Dec 26, 2020 | | Bookkeeping Services, Business, Cash Management, Financial Controller Services

Tips for Successful Cash Flow Forecasting


cash flow forecasting

In the U.S., the survival rate for small businesses is bleak, with 20% going under in the first year and 50% failing after five years. These businesses shut down for various reasons, including lack of customers for the product or service or having difficulty hiring the right people. But insufficient cash flow is frequently the reason for these closures.

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Sat Nov 28, 2020 | | Business, Cash Management, CFO Services, Virtual Accounting Services

Virtual CFO Services: What They Are and How Can They Help Your Small Business


What Is The CFO chief financial officer

These days, business owners, managers, and investors are seeking any way possible to reduce overhead and make every dollar count. And as businesses look for ways to curb unnecessary spending, many are now turning to virtual CFO services as a money-saving alternative to in-house financial leadership.

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Tue Nov 3, 2020 | | Business, Cash Management, Construction, Financial Controller Services

The Work in Process Schedule: Your Construction Company Needs to Use One


work in progress schedule

Construction companies typically juggle many complex jobs at once, often with a diverse mix of vendors and stakeholders. This makes managing your financials and tracking profits and costs an ongoing challenge. Fortunately, there is a tool that helps with managing and tracking the progress of your jobs. “The WIP,” which is the work in process schedule (sometimes called the work in progress or the contracts in process schedule), helps contractors determine their profitability by job while tracking and forecasting their job costs.

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Sat Oct 10, 2020 | | Business, Cash Management, Financial Reporting

What Is the Objective of Financial Reporting?


Objective of Financial Reporting

If you own or invest in a business, you know that companies produce financial reports at least once a year. But do you know what they’re telling you? Different types of reports exist that can tell you different things. However, the overall objective of financial reporting is to provide information about the finances of a company while complying with regulations.

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Sat Oct 10, 2020 | | Business, Cash Management

What You Should Know About Your Balance Sheet?


financial insights

Many business owners receive a monthly or quarterly balance sheet, but do not frequently analyze it or know what to look for. Many owners do not understand why the balance sheet is important.  Sometimes companies pay someone to prepare a balance sheet and it’s another item that just sits in their inbox.

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Tue Sep 22, 2020 | | Business, Cash Management, CFO Services, Financial Controller Services, Financial Reporting

5 Tips to Avoid the Most Common Financial Pitfalls for Business Owners


avoid financial pitfalls

No matter how brilliant an entrepreneur or business owner might be when running their business, without a good plan to maintain their company’s financial well-being, it will be difficult for their business to thrive. Regardless of industry or sector, we hear many of the same pain points that keep owners awake at night. The most successful businesses, just like people, form habits that lead to their ultimate success. Here are the top 5 action steps successful companies implement for financial success and prevent financial pitfalls.

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Wed Aug 26, 2020 | | Business, Cash Management, CFO Services

Get Your Business Back On The Road To Recovery: 3 Tips


business road to recovery

Although the pandemic is not over yet, and many businesses are still shut down or only operating at a limited capacity, it’s important to start planning now for getting your business back up and running in new and changing environments. Here are 3 tips to help get your business back on the road to recovery.

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Sat Jun 6, 2020 | | Cash Management

Cash Management Strategies: 10 Things You Need To Know


10-Things-You-Probably-Didnt-Know-About-Cash-Management-Strategies

When it comes to business, cash flow is king. The money you have at your disposal at any given time, without the burden of debt, is oftentimes what makes the difference between success and failure. Here are 10 cash management strategies that you probably didn’t even know existed:

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