Blog

In the world of construction accounting, organizing expenses efficiently is key to maintaining accurate financial records and understanding project profitability. QuickBooks, a popular accounting software, offers powerful tools for managing construction expenses and materials effectively. In this video I show you how to set up your QuickBooks if you are a construction business.  In this […]

Gone are the days when you had to hire a full-time bookkeeper to manage your financial records. The traditional setup came with its fair share of costs, including salaries, benefits, and office expenses. There’s a modern solution that’s changing the game: remote bookkeeping services. With remote bookkeeping, you can access professional financial support without the […]

Navigating the competitive landscape of the construction industry requires more than just skillful project management and robust operations—it demands a keen understanding of financial management principles. In this blog post, we’ll explore the importance of proactive financial planning for construction businesses and provide insights into creating a comprehensive financial roadmap to drive long-term success. Understanding […]

In the dynamic world of construction, managing projects efficiently is key to success. Yet, with so many moving parts, keeping track of every detail can feel overwhelming. This is where Key Performance Indicators (KPIs) come into play. By focusing on a select few essential metrics, construction businesses can gain valuable insights into their project performance […]

Construction industry accounting versus traditional accounting – what’s the difference? It’s easy to assume that basic accounting will suffice for a construction company, but your industry has unique financial considerations and challenges that will shape your accounting processes. Let’s take a closer look at some of the many unique aspects of construction accounting. Job Costing […]

The Department of Labor’s update finalizes the independent contractor rule. Construction companies already work with contractors and sub-contractors, and if you don’t abide by these rules, it can lead to some significant financial consequences: Four lawsuits are pending in Louisiana, Georgia, Texas and Tennessee to challenge the changes.  If you work with anyone who may […]

In 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final ruling on implementing the beneficial ownership information (BOI) reporting requirements of the Corporate Transparency Act (CTA).  The purpose of the CTA and new reporting requirement is to help the U.S. modernize its anti-money laundering efforts. Unless you run your construction business as a sole […]

Tax season is never fun to think about as a business owner. Your construction company is growing, along with your labor costs, and there’s a lot that you need to track that you didn’t need to as a smaller company. Preparing for tax season is all about getting your books in order. You don’t want […]