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Unfortunately, when a construction business grows, and staff need to be hired – or the owner needs to take time away from the company – it's an absolute liability not having processes and systems documented in one place. To be in business and to remain in business, become a business person!
It is time for contractors to get serious about the new accounting lease standard. 02 ASC 842 Leases, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). The prior accounting standard (ASC 840) only required capital leases to be included on the balance sheet. Accounting & Finance.
ACCOUNTING |. Accounting & Finance. Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Consider these three vital areas: Construction Project Documents: How do you move documents through your organization? STRATEGY |. MANAGEMENT |. SOFTWARE |.
ACCOUNTING |. Accounting & Finance. « Public Exposure and Liability on Construction Sites. Project Document Management : Your Communication Strategy. So focusing on a plan to improve project document management is a great start to better project communications. Document availability. STRATEGY |.
ACCOUNTING |. Accounting & Finance. The end of December didn’t just bring about New Year’s resolutions – it brought the end of the yearly accounting cycle. Needless to say, most accounting departments are rather busy right now. Archiving documents. Public Exposure and Liability on Construction Sites.
ACCOUNTING |. Accounting & Finance. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. I was doing some research on construction accounting softwares and came across your entry. STRATEGY |.
ACCOUNTING |. Accounting & Finance. « Considering New Accounting Software? As I said, be sure to talk with your CPA or tax specialist so that you know what you qualify for before making any purchases—whether it’s construction accounting software or a back hoe, you’ll want to make sure you’re informed! STRATEGY |.
ACCOUNTING |. Accounting & Finance. Document Management. With the current levels of detail required by industry standards, code compliance and also by the different disciplines, the number of documents required for a project is huge. Use a system to manage the documents you and your subs use to prepare bids.
ACCOUNTING |. Accounting & Finance. There are plenty of construction-specific accounting packages that work the way construction does and can efficiently prepare W2s and 1099s and year-end financial reports. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software.
ACCOUNTING |. Accounting & Finance. Next Generation of Document Management. For construction companies to function efficiently, they need documents to flow smoothly. Document imaging and management has been around for a while. Today, we need more process-oriented document management. STRATEGY |. SOFTWARE |.
ACCOUNTING |. Accounting & Finance. For instance, Foundation Software’s vision is this: “To provide the best in accounting software and service for the labor intensive contractor.” Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software.
ACCOUNTING |. Accounting & Finance. Finally, the programmers that do the actual coding will receive the final specifications document. They will study the document and then meet with the analyst to thoroughly review all aspects of the specifications. Public Exposure and Liability on Construction Sites. STRATEGY |.
ACCOUNTING |. Accounting & Finance. The right construction-specific accounting software package will allow you to easily create all of these reports with the click of a button (eliminating manual entry through Excel spreadsheets) and to supply the required reporting to your bonding agency. Tags accounting. STRATEGY |.
ACCOUNTING |. Accounting & Finance. To further complicate matters, a construction project may have hundreds, perhaps thousands, of people working on it at any given time, making document version control a constant struggle. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software.
ACCOUNTING |. Accounting & Finance. My company’s flagship product continues to evolve, and we constantly have one goal in mind: to be the industry leader in new sales for construction accounting software. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. STRATEGY |.
ACCOUNTING |. Accounting & Finance. Sometimes, as you know, project documents can devote an entire plan sheet or spec section to a list of abbreviations and acronyms. A lot of this communication revolves around the project documentation. Public Exposure and Liability on Construction Sites. Tags accounting.
ACCOUNTING |. Accounting & Finance. Venture tools are built to give contractors visibility and control over three key areas of construction operations: Documentation. Document Management. It’s no secret that documents play a vital role in the construction process from beginning to end. Tags accounting.
ACCOUNTING |. Accounting & Finance. Many contractors haven’t taken advantage of digital document solutions, and the ones that have are still dealing with high volumes of data. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software.
His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. Sabo & Zahn LLC is an Illinois Limited Liability Company. Only a knowledgeable attorney can apply the information here to your particular matter, taking into account the laws of your jurisdiction. Copyright Notice. Disclaimer.
ACCOUNTING |. Accounting & Finance. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software. Construction Accounting Software. document management. Tags: accounting , construction , foundation , software , technology.
ACCOUNTING |. Accounting & Finance. But should you rely on spreadsheets for accounting and jobs analysis? Today, new software applications – in job cost accounting, project management, estimating, etc. In construction, your construction-specific accounting software is often the most efficient tool you can use.
ACCOUNTING |. Accounting & Finance. Committing Intentional Project Communications » Public Exposure and Liability on Construction Sites. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software. Construction Accounting Software.
ACCOUNTING |. Accounting & Finance. So, I took some photos, wrote an RFI attached the photos to the document and sent it to the architect noting its urgent status. Do you have a process for organizing, storing and attaching all supporting documentation for an issue? Public Exposure and Liability on Construction Sites.
ACCOUNTING |. Accounting & Finance. NEWSFLASH: In the exciting world of construction accounting software, the inmates are in control. Chaos reigns and some very ugly accounting software systems have infected the back offices of construction companies nationwide! Public Exposure and Liability on Construction Sites.
ACCOUNTING |. Accounting & Finance. Integrated Document Management. To help you manage your paper, look for systems with document imaging and management that go beyond “scan and store” capabilities. You should be able to search the text of the documents, not just the file names. Tags accounting. STRATEGY |.
It takes an average of 18 minutes to find a paper document, and a whopping 70 percent of businesses would fail in three weeks if they had a catastrophic loss of paper due to a fire or flood. Paper forms decrease worker productivity, increase risk/liability, and decrease operational efficiency. Site Safety and Compliance Reporting.
ACCOUNTING |. Accounting & Finance. We have a very strong payroll module in our construction accounting software FOUNDATION for Windows. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software. Construction Accounting Software.
ACCOUNTING |. Accounting & Finance. We are officially in fall, so grab some hot chocolate and let’s discuss why, despite available document imaging technology, people still use paper. People want to have access at any given time to all of their documents. Public Exposure and Liability on Construction Sites.
ACCOUNTING |. Accounting & Finance. For example, maybe the first step for your business is switching from a completely manual or general accounting program to one focused just on construction. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. document management.
ACCOUNTING |. Accounting & Finance. Mountjoy, Chilton, Medley LLP is a CPA firm with a team of accountants dedicated to construction accounting. Bring all your financial documents to the initial meeting. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software.
ACCOUNTING |. Accounting & Finance. From applications that make your meetings and webinars more collaborative to document management and social media apps to help you and your team organize, it seems collaboration is everywhere. Public Exposure and Liability on Construction Sites. Tags accounting. STRATEGY |.
ACCOUNTING |. Accounting & Finance. Why Construction-Specific Accounting Software Costs More than Generic Accounting Software » Look for the September How To Issue. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software.
This practice does not work for material, labor, equipment, nor does it account for local market productivity in any effective manner. Locally researched JOC Price Books are readily available to provide cost visibility, cost transparency, and therefore improve cost management. d) Distribution. c) Authorization and limitations. (1)
ACCOUNTING |. Accounting & Finance. Good document management software will be able to keep those certifications on file. As construction becomes more and more complex, document management and certification tracking will play an even larger role in the industry. Public Exposure and Liability on Construction Sites.
ACCOUNTING |. Accounting & Finance. By themselves, they can’t house important documents, such as 401K contribution forms, that your employees need to access on a regular basis. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software.
“If something goes wrong, liability could hit the GC’s policy, which dilutes liability insurance limits, negatively impacts their claims history, and forces them to deal with a claim that’s not really their fault.”. General liability insurance. For example, assume you paint residential structures of all types.
ACCOUNTING |. Accounting & Finance. If we apply this to construction, imagine having an app that only allows you to view project documents. But if you want to markup the documents or perform a quick takeoff, you’d have to use a different app or open the documents on your computer. Tags accounting.
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