Construction Accounting Blog

Construction profit margins can look healthy on the income statement while still hiding a problem. Your project closes, the final invoice goes out, and you hit your target (on paper). But dig into the job cost detail and you might find costs that never got coded to the job or change orders that were

If you run payroll for union crews, you know it’s not as simple as multiplying hours by a pay rate. Union construction payroll comes with extra layers including fringe benefits, dues deductions, and rules set by collective bargaining agreements (CBA). Add in reporting deadlines to unions, and union payroll gets the

When you get to the end of a project most contractors are happy to close the books, except of course, if you finish a job and review the numbers only to realize that somehow you made less than you expected, or even worse, you lost

If you’re considering whether to bid on any government funded project, you know that you’ll have to stay compliant with certified payroll requirements. But what are the requirements and how can you make sure your company meets these obligations?   Our blog outlines in simple terms what payroll stipulations you can

Percentage of Completion Revenue Recognition for Contractors Imagine your construction company is 50% complete on a 14-month commercial build. Your crews are working hard, materials are arriving, subcontractors are submitting invoices, but are you actually earning money yet?  The answer depends on how your company handles revenue recognition. If

6 Signs You Need Construction-Specific Software   When you start a construction business, it makes a lot of sense to use QuickBooks as your accounting software. It’s affordable, easy to set up, and it helps you keep track of the numbers for your growing business. QuickBooks will track income