Construction for accountants
Accounting Today
NOVEMBER 13, 2023
Kit Dickinson of ADP shares the latest issues in the construction industry, and what they need from their CPAs.
DIY Construction Accounting Errors And Ways To Improve Your Practices
Randal DeHart
MARCH 1, 2024
Many small construction business owners tend to handle their accounting and bookkeeping, especially when they've just started. Below are five of the most common Do-It-Yourself accounting errors you should avoid. Below are five of the most common Do-It-Yourself accounting errors you should avoid.
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The Difference Between A Construction Accountant And A Tax Accountant
Randal DeHart
FEBRUARY 17, 2023
How often have you hired someone with the expectation that they know how construction works, and then you found out they did not know about it? You are a master in the construction industry, so you recognize what to look for in your particular field and quickly observe if someone has the skillsets, and you proceed accordingly.
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Navigating Construction Cash Flow Challenges, Myths, And Facts
Randal DeHart
APRIL 26, 2024
Cash flow problems ensue, threatening the survival and growth of your construction business. However, careful planning and smart accounting practices can cushion or even avoid these financial blows. However, careful planning and smart accounting practices can cushion or even avoid these financial blows.
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Sage Intacct Construction Accounting Software: A Blueprint for Success
Cherry Bekaert
JANUARY 31, 2024
The construction industry is vital to the U.S. Managing and completing construction projects may seem straightforward, but guaranteeing their profitability is a separate challenge. Notably, Sage Intacct is the first and only AICPA-preferred accounting solution.
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Construction Accounting Concepts You Can Benefit From Today
Randal DeHart
JUNE 16, 2023
But with so many accounting principles and practices, it can be challenging to know where to start. This guide will break down the essential accounting principles that every small business owner should know. Why Are Accounting Principles Important for Construction Businesses? That's where we come in!
Practical Tips To Improve Your Construction Marketing Strategy
Randal DeHart
APRIL 12, 2024
Stepping up your marketing game as a construction business owner is always a welcome topic in my client conversations. You may focus more on accounting and taxes at times, and at other times, your business may slow down, and sales become more challenging. Here are some practical tips that I highly suggest to consider:
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Changes to Lease Accounting Rules (ASC 842)
SMBAccountant
JANUARY 4, 2023
New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. The new lease accounting rules seek to make the impact ofleases more transparent within financial statements. Permalink
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Common Construction Contractor Bookkeeping Issues With Accounts Payable
Randal DeHart
JULY 22, 2022
Accounts Payable keeps track of the bills owed to a supplier or subcontractor. A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills. Again, the banker wants to know how long it takes to pay your bills.
Practical Tax Season Tips For Construction Business Owners
Randal DeHart
JANUARY 12, 2024
Tax season can be a bit overwhelming for construction business owners, especially with many things to keep track of in our industry. We know that construction businesses have unique tax considerations that can be tricky to navigate, such as complex accounting and bookkeeping challenges and issues related to payroll and sales taxes.
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Minnesota Accounting Firm Joins CLA Global
CPA Practice
APRIL 23, 2024
Christianson PLLP joined has joined CLA Global Limited (CLA Global), an organization comprised of independent accounting and advisory firms, as an alliance member in the United States. Based on reported 2021 fee income, Accountancy Age ranked CLA Global 15th among the top global accounting and advisory organizations in the world.
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PROPERTY & CONSTRUCTION SECTOR CHALLENGES
Menzies
APRIL 12, 2024
Menzies LLP - A leading chartered accountancy firm. The property and construction sector has experienced real challenges of late. PROFESSIONAL SERVICES The property and construction sector comprises a wide range of professional services including architects, surveyors, planners and estate agents. CLICK HERE.
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The Benefits Of Outsourcing For Construction Company Owners
Randal DeHart
DECEMBER 22, 2023
Outsourcing can offer a range of advantages for small construction businesses in today's competitive market. Small construction businesses can streamline operations, increase productivity, and scale faster than ever by working with external professionals or firms who work in certain areas. And that means they need to reduce costs.
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How To Make Xero Accounting Work For Your Construction Business
Randal DeHart
JULY 15, 2022
The key to making Xero Accounting Online work is ensuring your account is correctly set up and maintained. We see pretty common errors - and unfortunately costly - so you should be aware of them if you want to get the most out of Xero's powerful cloud accounting system.
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Key Financial Concepts For Construction Company Owners
Randal DeHart
SEPTEMBER 8, 2023
Not everyone knows construction accounting, and it is easy to assume all accounting is the same. Even if you have outsourced your financial functions, as a small construction business owner, having a solid understanding of critical financial concepts is crucial to work with your advisor and 'speak their language".
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Study: ChatGPT Won’t Be Replacing Accounting Professors In the Near Future
Going Concern
FEBRUARY 27, 2024
If you’re a high school student and future accounting major hoping to receive your undergraduate education from a friendly chatbot, we’re sorry to say that won’t be happening any time soon. There were ten questions for the Introductory Financial Accounting and 10 for the Advanced Financial Accounting course units.
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Beyond Numbers: Cultivating Emotional Intelligence in the Accounting Profession
CPA Practice
MARCH 5, 2024
Technical skills and a meticulous eye for detail have always been the bedrock of the accounting profession. As we venture through the evolving landscape of modern business, the ability to adeptly navigate our own emotions and those of others has become indispensable for accountants looking to elevate their service beyond the numbers.
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6 Reasons Construction Companies Need Accounting Professionals
Pooley Accounting Services
DECEMBER 2, 2021
You were up at 6:00 and at the construction site by 7:00. It’s 10:00 pm, and you’re trying to pull together a proposal for a huge construction project that is due tomorrow. Maybe, it’s time to think about accounting professionals or a firm with construction experience to help. construction accounting.
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Clarative Accounting is building for the future with construction clients
Xero
DECEMBER 7, 2022
This was certainly the case for Carly Shaw from Clarative Accounting. With these aspirations in mind, Carly and her colleague and friend Katie decided to embrace change and founded Clarative Accounting – a practice dedicated to helping small construction companies. . Here, Carly tells the story of Clarative Accounting. .
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Should Your AEC Firm Use Intacct or QuickBooks Accounting Software?
GrowthForceBlog
FEBRUARY 20, 2024
7 min read In the AEC (Architecture, Engineering, and Construction) industry, the core function of your business is a far cry from bookkeeping and accounting. Key Takeaways A Quick Comparison: Both Intacct and QuickBooks offer comprehensive accounting software features.
Adapt or stagnate as AI changes the accountancy profession
Mark Lee
APRIL 9, 2024
There is a direct parallel with the role of accountants. The key question is how will accountants respond to the changes that are rapidly becoming reality? Well, like accountants, the medical profession do not have to secure full marks to secure their qualifications. How does this relate to accountants? Head in the sand?
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The Benefits of Outsourced Accounting
Dent Moses
MARCH 13, 2024
One strategy gaining prominence is outsourcing, particularly accounting functions. Outsourcing accounting services can offer a myriad of benefits, revolutionizing a business’s financial landscape. The post The Benefits of Outsourced Accounting appeared first on Dent Moses, LLP.
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Minnesota Accounting Firm Joins CLA Global
CPA Practice
APRIL 19, 2024
Christianson PLLP, an accounting firm headquartered in Willmar, Minnesota, has joined as an alliance member of CLA Global. CLA Global Limited is an organization comprised of independent accounting and advisory firms. The firm has six offices and more than 80 staff members.
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Mastering Tone For Construction Company Connections
Randal DeHart
JANUARY 19, 2024
Mastering the right tone is critical when connecting and communicating with people in the construction business. For small construction businesses, email is frequently the preferred way to communicate with new leads, customers, and employees – but if you haven't mastered your tone, the meaning of your message may be lost.
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Sage Intacct Construction for General Contractors and DevelopersÂ
Withum
FEBRUARY 9, 2023
Sage Intacct Construction is one of the top construction finance management software providers and is the first and only AICPA-preferred accounting solution for general contractors and developers. Sage Intacct Construction enables proactive management of valuable financial metrics and improves cash flow.
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Cloud-Based Accounting: Sage Intacct’s Modern Solution for Businesses
Cherry Bekaert
OCTOBER 5, 2023
Accounting , fondly known as the ‘language of business,’ tells the story of how a business is performing. 1) Fast-forward to present day and the fundamental concepts performed by modern bookkeepers and accountants remain, but functionality and performance look vastly different in the age of all things digital.
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Why accounting firms should become business advisors
ThomsonReuters
JULY 6, 2023
As accounting firms look to differentiate themselves from the competition, one trend is leading the way: business advisory. From advising on mergers and acquisitions to specializing in accounting and advisory in your clients’ specific industry, there are many ways to take advantage of this unique opportunity.
Forensic Accounting for Construction Claims
FraudFiles
MARCH 3, 2021
Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims. She goes through the basics of the financial analysis performed on the numbers and documents related to the construction project.
Outsourced Accounting Frequently Asked Questions (FAQs)
Cherry Bekaert
FEBRUARY 26, 2024
Contributor: Veronica Vannoy Cherry Bekaert offers outsourced accounting services to businesses that want to reduce costs, improve efficiency and focus on core operations. Our certified accounting professionals produce accurate and timely financial reporting, while ensuring confidentiality and data security.
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Ways To Get Rid Of Construction Accounting And Bookkeeping Confusions
Randal DeHart
SEPTEMBER 9, 2022
Looking for ways to make your job easier is the goal of all construction contractors. The opposite of too much change can create another form of chaos. How do you know what is broken if you change a zillion things all at once? The last thing you want to hear from your staff or a trade contractor is, "Do you want me to do that over?"
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Google Reviews for Accountants – Why Your Firm Needs More
BuildYourFirm
FEBRUARY 18, 2021
How important are Google Reviews for Accountants? Google Reviews for accountants are more important than ever. And if those are not good enough reasons to make Google Reviews a top priority for your accounting practice, here’s the best part – getting reviews on the world’s top search engine is absolutely free!
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The 244th Largest Accounting Firm in the US Is Getting a Big New Office
Going Concern
MARCH 21, 2024
An accounting firm you’ve never heard of made the local news in a Tennessee town you’ve also never heard of for the firm moving into 55,000 square feet in a 128,000-square-foot building where 2,000 Citi call center grunts used to work. BCS is #244 on the esteemed INSIDE Public Accounting Top 500 with $18,594,028 in revenue.
The 5 Most Common Small Business Accounting Mistakes
VetCPA
SEPTEMBER 8, 2022
Small businesses make accounting errors and oversights regularly. Here, we cover five of the most common small business accounting mistakes. Recording everything is an excellent rule to follow for bookkeeping and accounting for a small business. You refuse to outsource your accounting needs.
10 commandments of client service for accountants
Mark Lee
APRIL 23, 2024
Over the years I have seen and heard much advice on the subject of client service for accountants. Avoid jargon Remember that clients don’t generally use the same acronyms and abbreviations as accountants. Clients rarely swap accountants simply because of a mistake or two. What you should do and what you should not do.
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Unlocking The Secrets Of Small Construction Business Cash Flow
Randal DeHart
APRIL 28, 2023
Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Cash is king! Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest.
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New opportunities and challenges for construction clients
Accounting Today
DECEMBER 26, 2023
Federal money is keeping construction businesses busy, but comes with its own complications.
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Xero: Accounting for Construction Companies
FusionCPA
SEPTEMBER 9, 2020
As an owner of a construction company, managing various elements from the field is necessary, and Xero accounting for construction companies can help. Projects, people, and related activities keep you on the road. Managing the financial aspects of your business never stops.
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Stay Ahead of the Curve: Top AI Applications for Accounting CMOs and CGOs
CPA Practice
JUNE 9, 2023
10 Top AI Application Uses Here are 10 AI uses for CMOs (Chief Marketing Officers) and CGOs (Chief Growth Officers) in the accounting industry. Prompt: write a 160 character meta description for this content Result: Learn how construction accounting can help manage cash flow for contractors. Construction accounting can help!
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Now the Profession Is Losing Experienced Accountants Too
Going Concern
SEPTEMBER 22, 2023
Here we are again talking about the accountant shortage. Mark Maurer at Wall Street Journal wrote today about a young man named Omer Khokhar who realized after six years in accounting that he was done. The article title: “Job Security Isn’t Enough to Keep Many Accountants From Quitting.” ” Ruh-oh.
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Construction Industry Tax Planning Tips for 2023 Year-End
Anders CPA
DECEMBER 18, 2023
While some provisions are expiring, new regulations and updated rulings introduced by the CARES Act and the Inflation Reduction Act (IRA) will impact entity conversions, deductions and accounting methods for the construction industry. View the 2023 Tax Planning Opportunities for the Construction Industry report from Anders and CICPAC.
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Ways To Keep Your Construction Company Sustainable
Randal DeHart
MAY 12, 2023
It's rare these days that your prospective leads happen to find your construction business and become a client with no work. Keep in mind: Marketing-Accounting-Production Taking steps to create a good foundation in the early days of your business is essential for a sustainable and profitable future.
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Aprio Merges in Texas Accounting Firm Ridout Barrett & Co.
CPA Practice
DECEMBER 19, 2023
Top 30 accounting firm Aprio has expanded into Texas after merging with San Antonio-based Ridout Barrett & Co. Founded in 1986, RBC has deep experience providing accounting and business consulting services to its clients, especially those in the construction and real estate industries. CPAs & Advisors (RBC).
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The Value Of Documenting Effective Construction Business Systems
Randal DeHart
SEPTEMBER 15, 2023
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 run a construction business, you must be business-like. If so, your construction business won't last long.
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Tuesday Morning Accounting News Brief: EY and PwC Get a New Scandal; Stop Trying to Make Sexy Accountants Happen | 1.16.24
Going Concern
JANUARY 16, 2024
Supposedly accounting is the hottest in-demand remote job : The most sought-after remote job companies are hiring for isn’t in tech, as you might expect. Accountant is the hottest work-from-home job on the market right now. Accountants claimed the top spot in FlexJobs’ annual ranking of the top remote jobs in the U.S.,
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