Blog

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 […]

I know that building a financial foundation for business is often a challenging aspect for many small construction company owners. The unique nature of the industry, coupled with resource constraints and the constant quest for growth, presents a complex financial puzzle.  But you don’t need to worry, because experts like me come to play (and […]

Over the past few years, I’ve been a close ally to construction business owners, and I get this question a lot: “Eliza, which accounting software wins the race?”. My personal favorite is, of course, Quickbooks Online, but I can tell you that there is accounting software that serves well if Quickbooks Online is too big […]