Remove Accounting Remove Cash Flow Remove Liability
article thumbnail

Assessing Key Tax Methods for Contractors

Construction Business Owner

Assessing Key Tax Methods for Contractors ccapoccia Tue, 12/17/2024 - 14:24 C ontractors face challenges that necessitate careful consideration of accounting methods for their contracts, especially for tax purposes. The choice of tax accounting methods for contracts can significantly impact financial statements, cash flow and tax liabilities.

Cash Flow 156
article thumbnail

Navigating Construction Cash Flow Challenges, Myths, And Facts

Contractor Bookkeeping

In the world of small businesses, positive cash flow is king. The driving force keeps your business engine running smoothly, covering all your liabilities. Cash flow problems ensue, threatening the survival and growth of your construction business. But what happens when outflow exceeds inflow?

Cash Flow 104
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Data Security in the Cloud » Collaborating on Cash flow. The topic of cash flow never seems to get old – after all, sustained negative cash flow often results in slashing budgets, personnel, and in the worst cases shutting down of a company. STRATEGY |.

Cash Flow 120
article thumbnail

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. Fariba Mehdian.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. While there are numerous reasons to change software applications, there are two that regularly come up in our discussions with prospective clients: cash flow control and project cost control. Back to Cash Flow. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |.

Cash Flow 120
article thumbnail

Obtaining the Proper Bonding for Government Jobs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Other common reports bonding agents will look at include income statements, balance sheets, statements of cash flow, and job specific invoice aging reports. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. STRATEGY |.

Cash Flow 168
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software. Tags: accounting software , business advice , construction , corporate image , foundation software. STRATEGY |. MANAGEMENT |. SOFTWARE |.