Construction billing is a critical aspect of construction accounting, directly influencing cash flow, project profitability, and the overall financial health of a construction company. At its core, Construction Accounting involves the meticulous tracking and allocation…

Also referred to as “revenue recognition”, it represents the point at which a construction project becomes profitable. Under the cash method, you will record expenses as you pay them out, and income gets accounted for…

Efficient inventory management helps avoid stock-outs and excess inventory, improving cash flow, customer service, and profitability. Businesses must consider factors like demand nature, lead time consistency, product characteristics, available technology, supply chain complexity, business size,…

In the realm of merchandise management, the term “reorder level” might sound technical, but its essence is straightforward. It’s the inventory threshold that triggers a new order for a particular product. In simpler terms, it’s…

If retainage isn’t being applied to the correct retainage accounts on your balance sheet, you risk over or understating your books – and you risk losing track of what you’re owed. From an accounting sense,…

Expert bookkeepers ensure that all project-related expenses are accounted for correctly and allocated to specific jobs. This detailed tracking of project costs enables you to assess which projects are most profitable and where inefficiencies may…