Construction Business Owner

MAY 16, 2023

The Importance of Accounting Estimates in an Uncertain Economy ccapoccia Tue, 05/16/2023 - 13:49 “A journey of a thousand miles begins with a single step,” was the saying of Lao Tzu, an ancient Chinese philosopher. These estimates provide management with a foundation to effectively interpret costs, profitability and bid processes.

Accounting 156

Accounting Estimating Finance Bidding 156

Construction Business Owner

JUNE 25, 2019

Heavy construction is catching up to other sectors when it comes to deploying software, which is prompting contractors to closely examine the roles and integration of software solutions for field operations (where profits are made) and accounting (where profits are measured). .

Accounting 286

Accounting Profitability Software Software 286

Construction Business Owner

FEBRUARY 21, 2020

How to Streamline Accounting Processes with Expense Management Tech. How you can help your company be more productive and profitable by investing in expense management technology to streamline your accounting tasks. Elizabeth Manning. Fri, 02/21/2020 - 11:43.

Accounting 215

Accounting Management Profitability Products 215

Construction Marketing

JULY 24, 2020

In the past, the marketing and accounting functions within a company were not frequent collaborators save the annual budgeting or forecasting process. Today, thanks to technology, software and systems, marketing and accounting teamwork is not only possible, but effective. Marketing and Accounting Harmony.

Accounting 172

Accounting Finance Forecasting Certification 172

Contractor Bookkeeping

MARCH 26, 2021

Most construction business owners who use accounting software quickly master the basics. 1 Cash On Hand - This report shows you how much cash you have in your checking accounts, savings accounts, payroll accounts, hip national bank (your wallet), and petty cash box in your office. #2

Accounting 109

Accounting Software Software Cash Flow 109

Construction Business Owner

SEPTEMBER 29, 2020

5 Ways Contractors Can Improve Profitability. Your accounting team has an opportunity to make a major contribution to your firm’s bottom line. By following project accounting best practices as they manage budgets and billing, they can help ensure the profitability of each project. Accounting & Finance. Main Image.

Profitability 185

Profitability Virgin Islands Contractors Puerto Rico 185

Viewpoint Construction Technology

DECEMBER 6, 2022

Learn how you can make your AP process faster and easier by removing paper processes while turning your AP department into a profit center.

Accounting 169

Accounting Profitability Construction Viewpoint 169

Viewpoint Construction Technology

NOVEMBER 15, 2021

Old-fashioned construction accounting can’t win against today’s complex projects and high-risk landscape. Viewpoint Analytics brings powerful reports.

Viewpoint 314

Viewpoint Profitability Accounting Risk 314

Construction Enquirer

JUNE 22, 2023

Hire giant Speedy saw profits slump in its latest accounts after £20m of kit was discovered “missing” earlier this year. while pre-tax profit fell to £1.8m while pre-tax profit fell to £1.8m The hire giant launched a probe in February after a count-up of its kit revealed a £20.4m from £29.1m. from £29.1m.

Accounting 90

Accounting Profitability Environment Management 90

Contractor Bookkeeping

DECEMBER 9, 2022

Proper accounting and bookkeeping develop timely financial reports to show which jobs are profitable so you can pursue more. The key is continuously refining your construction company's practices and procedures. Your office ensures your contracting company has a steady flow of projects.

Cash Flow 94

Cash Flow Profitability Construction Accounting 94

Contractor Bookkeeping

MAY 19, 2023

Sales and profit are two very different things – as a construction business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that solid cash flows from sales deliver little profit.

Cash Flow 102

Cash Flow Profitability Forecasting Construction 102

Construction Business Owner

DECEMBER 31, 2022

To build a profitable construction business, owners must be focused on key performance indicators (KPIs) and bottom-line numbers. These KPIs are centered on sales revenue, overhead, profit markup, labor costs per unit of work, and your updated job cost labor for every project. 6 Numbers You Need to Know. Sat, 12/31/2022 - 07:39.

Overhead 295

Overhead Profitability Finance Accounting 295

Levelset

JUNE 6, 2022

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. Steven Peterson.

Accounting 98

Accounting ABC Banking Liability 98

Construction Business Owner

APRIL 10, 2023

Understanding Tech Options & How They Impact Operations ccapoccia Mon, 04/10/2023 - 08:12 Software selection can be a daunting task, whether it’s for accounting, project management, scheduling, estimating, timecard capture, contact management or another process. Software becomes part of your infrastructure.

Software 316

Software Software Profitability Project Management 316

Construction Dive

FEBRUARY 17, 2023

A missed $12 million tax accrual will cause the California contractor to restate its books for the second time in two years.

Accounting 88

Accounting Profitability California Contractors 88

Autodesk Construction Cloud

APRIL 24, 2023

By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. ” Clearly, technology can enormously influence your projects’ productivity and profitability. Little to no project or business predictability Most construction projects are like a unique snowflake.

Profitability 97

Profitability Construction Autodesk Forecasting 97

Construction Dive

MAY 9, 2023

The firm announced plans to spin off its Critical Missions Solutions business, which accounted for 35% of its revenue last year.

Profitability 116

Profitability Accounting Plans 116

Contractor Bookkeeping

AUGUST 11, 2017

Contractors Need Help Understanding Role of Accountants. Contractors should have two primary accountants. One is the Tax Accountant the other is your Construction Accountant. Tax Accountant who does the Annual tax return for your business and your personal tax return.

Accounting 51

Accounting Profitability Cash Flow Contractors 51

Construction Business Owner

DECEMBER 4, 2023

How to Analyze WIP Schedules ccapoccia Mon, 12/04/2023 - 16:56 A contractor’s work-in-progress (WIP) schedule is used by the company’s accounting department to vet the trajectory of each construction project. When the WIP schedule is accurate and updated, contractors can foresee and possibly prevent potential issues from occurring.

Schedule 156

Schedule Cash Flow Work in Progress Profitability 156

Contractor Bookkeeping

MAY 14, 2021

While improving employee productivity should always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Whether you work alone or managing a group of people, practicing accountability matters.

Accounting 69

Accounting Management Construction Profitability 69

Fieldwire

FEBRUARY 14, 2022

Anyone who has managed a construction company, department, or project knows profitability can be challenging. Intense competition, fluctuating market conditions and other factors often result in tight profit margins. Even with numerous challenges, specialty contracting can be profitable. In-Demand Expertise.

Profitability 98

Profitability Contractors Management Contract 98

Contractor Bookkeeping

AUGUST 7, 2020

For many small construction companies, the best way to improve profitability is to increase turnover, as there's no limit to sales, but there is a limit to how much you can reduce your costs. Let's look at how you can focus on each of the five ways in our profit increase calculator to achieve your goal of improving profits.

Profitability 116

Profitability Construction Environment Accounting 116

Contractor Bookkeeping

MAY 6, 2022

Success in operating a profitable construction business is all about maintaining the proper balance of control over both The Profit Centers and The Cost Centers. A Highly Profitable Construction Company builds on its strengths and core competencies and continues innovating, growing, and responding to changes in its environment.

Profitability 104

Profitability Construction Innovation Environment 104

Construction Enquirer

JULY 30, 2023

The bounce back follows a disappointing performance in 2022 that saw pre-tax profit fall 19% to £12m from revenue flat at £404m, according to newly-published accounts. McAleer & Rushe is set for a record year having secured new contracts worth £440m in the first six months of 2023 in Greater London, the Midlands and Scotland.

Profitability 71

Profitability Residential Security Accounting 71

Contractor Bookkeeping

DECEMBER 25, 2020

Year over year and regardless of the economy, one thing never changes; 20% of the contractors earn and keep 80% of the profits because they have a Business Process Management Strategy like our Contractors Success M.A.P. Marketing / Accounting / Production.

Accounting 68

Accounting Products Contractors Profitability 68

Construction Business Owner

MAY 21, 2018

Today’s volatile construction industry, dominated by demanding owners, labor shortages, increasing competition and shrinking profitability, leaves many contractors wondering “How can we survive amidst growing risk and uncertainty?”

Accounting 142

Accounting Profitability Risk Contractors 142

Contractor Bookkeeping

NOVEMBER 19, 2021

Among the stats Hubspot lists are: that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are nine times more likely to convert than first-time visitors, and a 2% increase in customer retention has a similar impact to your bottom line as reducing costs by 10%.

Profitability 96

Profitability IDEA Commercial Housing 96

Contractor Magazine

NOVEMBER 13, 2017

For too many contractors, profit is something they take out of the business when they sell it. It should be one of the first things that contractors get.

Profitability 53

Profitability Accounting Contractors 53

Construction Business Owner

JUNE 23, 2023

I practiced in public accounting for 18 years, specializing with contractors, and I oversaw 125 audits and reviews each year before I sold my practice. One perspective gained was the disparity in profitability across companies with similar projects, specialties and size.

Infrastructure 156

Infrastructure Profitability Accounting Modeling 156

Contractor Bookkeeping

OCTOBER 27, 2017

Construction Accounting Basics For Construction Contractors. Construction Accounting is not a natural mindset for Construction Contractors. Construction Accounting has own language. Regular Accounting the language is Income Minus Expenses Equals Net Profit.

Accounting 54

Accounting Contractors Income Overhead 54

Contractor Bookkeeping

MAY 31, 2019

Proper construction accounting is all about the details. Everything starts with cash because "cash is fact, profit is an opinion." All transactions in the bank account of your construction accounting system no matter if it is QuickBooks or Xero, must be assigned to the proper accounts: Income.

Accounting 59

Accounting Profitability Overhead Banking 59

Pro Builder

FEBRUARY 11, 2022

Reducing 3 Types of Construction Waste to Increase Home Builder Profit. In today’s economic climate, it’s vital for home builders to keep waste to a minimum so they can receive the highest profit on their homes. Accounting for extra tile for perimeter cuts is another area that will often result in required waste. .

Profitability 111

Profitability Materials Construction Estimating 111

Viewpoint Construction Technology

JUNE 6, 2012

Mountjoy Chilton Medley LLP is a CPA firm with a team of accountants dedicated to construction accounting. Mr. Smither shared success stories of companies that have managed to stay profitable during hard times, revealing their secrets. The following are some great takeaways from the presentation.

Profitability 185

Profitability Industrial Accounting Construction 185

Construction Business Owner

APRIL 3, 2020

Exploring the software essentials that push profits & productivity. In this session, you’ll learn three advantages proven, born-in-the-cloud construction and accounting software provides, where everyone from management and field operations to the back office is connected and has complete visibility into your customers and business.

Software 312

Software Software Profitability Accounting 312

Contractor Bookkeeping

MARCH 10, 2023

A USP (Unique Selling Proposition) is a compelling reason for your target market to choose your construction business over your competitor's. Examples range from cutting-edge service and product features to simply being more convenient and easier to find for the target market.

Profitability 93

Profitability Construction Products Accounting 93

Construction Business Owner

AUGUST 1, 2018

Imagine your company as a funnel with a shut-off valve controlling the flow of profit output. The funnel absorbs and reduces the profit output by paying invoices for job costs and overhead expenses. The leftover flow is net profit cash exiting the end of the funnel into your equity account.

Equity 243

Equity Overhead Profitability Accounting 243

Contractor Bookkeeping

OCTOBER 9, 2020

Studies found that alert employees have fewer accidents, which in turn reduces your cost of doing business and raises cash flow and profits. I saw a special where a manufacturer described how the process is that they moved employees on a scheduled basis between workstations to help them avoid boredom and stay fresh throughout their workday.

Accounting 103

Accounting Cash Flow Accidents Profitability 103