Contractor Bookkeeping

FEBRUARY 23, 2024

Construction Company owners like you have probably experienced life-changing events in the past few years, as many of our clients did. Are you struggling to keep your construction business afloat? Poor Cash Flow Management One of the biggest challenges for construction businesses is managing cash flow.

Cash Flow 62

Cash Flow Forecasting Construction Deals 62

Lets Build

JANUARY 20, 2023

Construction sites are chaotic. And even if it’s mostly controlled chaos, staying on top of everything is challenging for site managers. While we have plenty of tools to get a general overview of projects and see how they should be progressing, we only have one that shows how they’re actually progressing: construction daily logs.

Site 148

Site Construction Documentation Products 148

Viewpoint Construction Technology

JANUARY 10, 2018

If you work in construction, you’re probably familiar with the finger-pointing phase of a project. It’s no surprise the finger-pointing phase happens in many projects. Delays and change orders are pretty standard, but that doesn’t make them any less stressful for those involved in a project.

Software 217

Software Software South Carolina Change Orders 217

Lets Build

JULY 14, 2020

In construction, technology has been gradually replacing outdated machines and systems. Free guide: How to reduce construction delays by more than 20%. It is wrong to believe that digital transformation in construction is a linear process and it will continue to evolve no matter what. The construction industry in numbers.

Software 153

Software Software Construction Industrial 153

Construction Business Owner

APRIL 1, 2011

General Management. Construction Law. People Management. Construction Safety. Equipment Management. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Healthy Competition » Free Webinar on Reducing Profit Fade. Top 5 Trends in Construction Software.

Cash Flow 120

Cash Flow Construction Software Software 120

Contractor Bookkeeping

OCTOBER 4, 2013

Starting Or Re-Starting A Construction Company Is Easy. Secret #01 Decide What You Want From Your Construction Company. Action Step - 01: On a peice of paper type and print or hand write a description of what you want from your construction company and put it into a three ring binder. If You Know Exactly What To Do.

Profitability 48

Profitability Construction Accounting Cash Flow 48

Autodesk Construction Cloud

JUNE 18, 2022

Table of Contents: What is Construction Management Software? The Benefits of Construction Management Software. Key Features to Look for in Construction Project Management Software. Use Cases for Construction PM Software. How to Choose the Best Construction Management Software.

Project Management 98

Project Management Software Software Management 98

Contractor Bookkeeping

FEBRUARY 28, 2014

Your Construction Contracting Company. Is your Construction Company Process Dependent Or People Dependent? Is your Construction Company Process Dependent Or People Dependent? There is no one right answer; it depends on what you want from your construction company. Money Is The Main Reason You Own And Operate.

Profitability 48

Profitability Contractors Cash Flow Accounting 48

Construction Business Owner

SEPTEMBER 13, 2011

General Management. Construction Law. People Management. Construction Safety. Equipment Management. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. Categories.

Construction 120

Construction Software Software Accounting 120

Pro Builder

FEBRUARY 4, 2021

The Shinn Group’s long-running Fin-Op analysis, backed by decades of data, offers builders a road map to profitability and a benchmark of performance. 2021 Housing Forecast. Predicting Profit: How to Know Your Margin Before You Close. Predicting Profit: How to Know Your Margin Before You Close. cbroderick.

Profitability 52

Profitability Finance Housing Compensation 52

Contractor Bookkeeping

JULY 18, 2012

As You Can Clearly See - There is no place to record the Job Cost information which some contractors call Schedule of Values, CSI Codes, SOV, WIP and a bunch of other labels used to describe the terms that are common to both construction accounting and construction project management.

Profitability 54

Profitability Accounting Construction Project Management 54

Autodesk Construction Cloud

JUNE 18, 2022

Table of Contents: What is Construction Management Software? The Benefits of Construction Management Software. Key Features to Look for in Construction Project Management Software. Use Cases for Construction PM Software. How to Choose the Best Construction Management Software.

Project Management 52

Project Management Software Software Management 52

Autodesk Construction Cloud

OCTOBER 28, 2021

Every year, Autodesk University (AU) brings industry knowledge to light, leaving construction professionals from across the globe with a wealth of actionable insights. Modern construction cost management relies on connected workflows. Educating and enabling project teams is critical to technology adoption.

Autodesk 52

Autodesk Industrial Construction BIM 52

ProcurementExpress.com

JANUARY 2, 2019

Let me tell you about Construction’s Secret Weapon. In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. But, procurement , project management, and the C-suite should all monitor WIP closely. That’s accounting’s job, right? Well, not exactly.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

Autodesk Construction Cloud

JUNE 23, 2022

Everyone working on a project has the goal of delivering it on time and within budget, but few team members feel this quite as keenly as construction project managers. . As the project manager, you’re tasked with overseeing and facilitating the several moving parts of a project.

Project Management 97

Project Management Management Forecasting Profitability 97

Contractor Bookkeeping

SEPTEMBER 1, 2014

For Example - The simple Profit & Loss Report Can Be Shown Four Different Ways With Little Effort. The First Two Profit & Loss Reports Show Accrual Basis Vs. Cash Basis. Accrual Basis is generally for internal use by the contractor to make decisions about operations and forecasts. Click Here For More.

Contractors 48

Contractors Accounting Cash Flow Profitability 48

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. But, procurement, project management, and the C-suite should all monitor WIP closely. How Does WIP Fit into the Construction Business? When the payment hits their account, they may mistake it for profit.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Best Practices Construction Law

NOVEMBER 26, 2012

No matter the season, however, construction companies rely heavily on cash flow to fund their operations. As a preliminary matter, make sure that you get a written contract when starting a new project and make sure that both parties sign the agreement. Project Management Tips. Written Contract. These include: Normal.

Cash Flow 48

Cash Flow Project Management Change Orders Agreement 48

Contractor Bookkeeping

AUGUST 25, 2014

Having Lived Through Several, Recessions Beginning In The Mid 1960''s I Sincerely Understand And Empathize With The Challenges That All Construction Owners, Workers And Support Staff Have Faced For The Past Several Years. Pent Up Demand For Construction Projects. The Good News Is Everything Is About To Change For The Better!

Contractors 48

Contractors Accounting Profitability Hawaii 48

Autodesk Construction Cloud

JANUARY 9, 2024

In 2023, the construction industry grappled with the lingering effects of supply chain disruptions, inflation, and ever-present labor shortages —a narrative that has become all too familiar. But amidst these challenges, construction pros remained as resilient and innovative as ever. CAGR from 2023 to 2028.

Construction 137

Construction Autodesk Industrial Sustainability 137

Autodesk Construction Cloud

NOVEMBER 22, 2021

Maintaining profitability on any given project is a challenge that many AEC firms face. It’s no secret that the construction industry has some of the lowest margins out there; data from Camino Financial states that the construction industry has an average net profit margin of just 5%.

Profitability 52

Profitability Autodesk Accounting US 52

Viewpoint Construction Technology

JUNE 19, 2018

In case you haven’t heard, construction software use is on the rise. By 2020, technology adoption in construction is expected to reach 70 percent, according to a 2017 report from McKinsey Global Institute. There has also been an increase in mobile device and cloud storage use at companies throughout the construction industry.

Software 200

Software Software Viewpoint Construction 200

Autodesk Construction Cloud

JANUARY 17, 2024

Research from Gordian found that in 2023, the construction industry saw a 5.3% of construction materials in the RSMeans database experienced a significant cost increase, with an average increase of 19%. Utilize cost and estimation data Tap into historical and actual data to forecast and plan for expansion, repairs, and rehab.

Autodesk 122

Autodesk Construction Forecasting Safety 122

Autodesk Construction Cloud

APRIL 18, 2023

The construction industry is no stranger to challenges, and the latest wave of rising costs is putting many firms to the test. Research from the Associated General Contractors of America (AGC) shows that while construction backlogs are high, elevated material and borrowing costs could put more pressure on contractors.

Autodesk 52

Autodesk Construction Budgeting Budget 52

Autodesk Construction Cloud

MAY 5, 2023

Historically, accounting and IT departments have managed enterprise resource planning (ERP) environments and forced project management teams to make these solutions work for operations. So, another solution emerged: the native model, which came in the form of an ERP with a project management module embedded inside it.

Office 52

Office Autodesk Accounting Project Management 52

Autodesk Construction Cloud

MARCH 23, 2023

For teams to extract value from data, they must first make sense of the information they have—which is where data visualization comes in. Construction projects involve massive amounts of information and documents, including BIM models, schedules, budgets, and performance reports.

Visualization 119

Visualization Construction Autodesk Safety 119

Autodesk Construction Cloud

JANUARY 19, 2022

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. Choose projects with profitable estimates.

Cash Flow 59

Cash Flow Management Profitability Change Orders 59

Autodesk Construction Cloud

DECEMBER 2, 2021

Your ultimate guide to construction cost management, and how to improve it. Tracking costs and monitoring risk while keeping a job on budget can be one of the biggest hurdles to any building project. Tracking costs and monitoring risk while maintaining a budget is one of the most significant hurdles on a building project.

Management 52

Management Change Orders Construction Budgeting 52

Viewpoint Construction Technology

MARCH 14, 2018

At Viewpoint and throughout the construction industry, productivity has been a popular topic of discussion. People are right to be concerned, since in 2017, McKinsey Global Institute found the construction industry’s labor productivity only improved 1 percent globally over the past 20 years. Improve Project Management.

Products 221

Products Software Software Project Management 221

Autodesk Construction Cloud

DECEMBER 14, 2022

This past year has been an interesting one for the construction folks, to say the least. In 2022, we kicked off strong with four consecutive months of increased construction spending. However, supply chain bottlenecks, inflation, and labor shortages all remained significant challenges for the construction industry.

Construction 111

Construction Industrial Management Innovation 111

Autodesk Construction Cloud

FEBRUARY 7, 2022

Construction projects benefit from maximizing efficiency. To generate profits in an industry known for razor-thin margins, firms need to maintain control over cost and schedule at every phase of construction. This is why so many firms end up saying, “We need the best all-in-one construction software.”

Software 95

Software Software Construction Bidding 95

Autodesk Construction Cloud

NOVEMBER 17, 2021

Your construction budget is one of the most important things to get right in any project. Poor budgeting leads to inaccurate estimates and error-prone forecasts, which can result in unfavorable project outcomes. Ultimately, an inadequate construction budget leads to cost overruns, wasted time, and lower profit margins.

Budgeting 52

Budgeting Budget Construction Estimating 52

ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. We’ve talked about this on, well, too many occasions to count.

Cash Flow 68

Cash Flow Contractors Budgeting Budget 68

Contractor Bookkeeping

OCTOBER 7, 2013

You will notice - This bookkeeper does not talk back, argue, arrive late, leave early, take long lunch and coffee breaks, demand overtime, fringe benefits, try to train you , or have any of the bad bookkeeper habits that drive construction company owners crazy! In between he learns that B.OA.T. means B ring O ut A nother T housand.

Accounting 48

Accounting Contractors Documentation Profitability 48

Autodesk Construction Cloud

JUNE 16, 2022

Even back in the Middle Ages, large endeavors were broken down into skill-specific projects and contracted out to the guilds. The masons, architects, blacksmiths, and painters then managed their little corners of construction, freeing the overseer to do their thing. . Plus, the risk in construction is increasing.

Software 105

Software Software Change Orders Autodesk 105

Autodesk Construction Cloud

MARCH 23, 2022

Equip Your 2022 Projects With the Right Construction Data and Stats for Success. Construction industry statistics and data are playing an increasingly important role in the building sector. Undoubtedly, the construction industry is very complex. Leverage data to increase project productivity and reduce costs.

Statistics 98

Statistics Industrial Autodesk Construction 98

ProcurementExpress.com

JULY 15, 2019

Construction companies face more cash flow challenges than just about any other industry. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. We’ve talked about this on, well, too many occasions to count.

Cash Flow 52

Cash Flow Contractors Budgeting Budget 52