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The Right Accounting Software Can Increase Your Profits

Contractor Bookkeeping

Most construction business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions. What three reports do you need for your construction business? #1

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Retention receivable and payable is different from accounts receivable and payable. View profile.

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Common Bookkeeping Pitfalls And The Value Of Outsourced Accounting

Contractor Bookkeeping

Although most construction company owners recognize the importance of careful financial management, few want to spend their time dealing with numbers. Avoid this pitfall by using a separate credit card and bank account for business, and being disciplined about separating expenditures.

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How to Increase Cash Flow for Your Construction Business When You Can’t Get the Financing You Need From the Bank

Levelset

Add in being denied a bank loan, and the frustrations mount. With your back against the wall, dipping into your personal bank account may feel like an easy solution. But when you take into account how long it takes for specialty contractors to get paid, it gets risky quickly, especially if you’re just starting out.

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The upside of job costing: More accurate estimates means more money in the bank

Lets Build

In a recent study of self-identified business owners, accountants, bookkeepers, estimators, and finance managers within the construction industry, 1. Yet having at least some understanding of cost analysis isn’t just desirable—it’s necessary.

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Major roof truss maker calls in administrators

Construction Enquirer

The Northamptonshire headquartered business turned over more than £35m according to last published accounts and operated out of several branches across the south, Midlands and Wales. In 2015 Simon Kidney, coming from a former investment banking background, took up the role of CEO as part of the management buyout.

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What Happened at the 2017 CFMA Conference?

Construction Business Owner

The Construction Financial Management Association (CFMA) is dedicated to serving the educational needs of construction financial professionals.

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