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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Enhancing Growth: The Crucial Role Outsourced Accounting Services Play for Growth-Minded Construction Companies
Cherry Bekaert
MAY 22, 2024
In the competitive landscape of the construction industry, growth-minded companies are continuously seeking ways to streamline operations, optimize financial processes and focus on their core competencies. In addition, navigating the intricate financial landscape of construction demands specialized expertise.
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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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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!
The Top KPIs for Construction Firms
GrowthForceBlog
APRIL 29, 2024
This means each dollar spent on labor must generate an adequate ROI to justify the expense… Improve Performance With Outsourced Accounting: At GrowthForce, we specialize in working with clients who run service-based businesses such as construction firms in the AEC industry…
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Tracking Construction Business Finances Through QuickBooks Desktop
Randal DeHart
MAY 24, 2024
Keeping track of sales, earnings, expenses, and purchases is fundamental to your construction business's overall health and sustainability. Many business owners dread bookkeeping and accounting tasks despite their proven importance.
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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.
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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Finding Your Financial Compass: Why Small Businesses in Los Angeles Thrive with Specialized Tax and Accounting Support
MyIRSRelief
APRIL 29, 2024
But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.
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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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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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7 Key Benefits of Sage Intacct for Construction Companies
Cherry Bekaert
MAY 30, 2024
As the demand for new infrastructure, commercial and residential buildings, and renovations expands, the construction industry also faces labor shortages, rising materials costs, and supply chain delays. Improved Financial Visibility Sage for Construction provides real-time visibility into your company’s financial performance.
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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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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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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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Top Remote Accountants of the Week | May 16, 2024
Going Concern
MAY 16, 2024
Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Accountingfly can help! Sign up now to see the complete candidate list and connect with potential hires.
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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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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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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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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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Top Remote Accountants of the Week | May 23, 2024
Going Concern
MAY 23, 2024
Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Accountingfly can help! Sign up now to see the complete candidate list and connect with potential hires.
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A Grassroots Movement for The Regenerative Accountant
CPA Practice
MAY 20, 2024
The world is witnessing a shift towards regenerative practices in various sectors – from agriculture to fashion, from construction to consumer goods. But there’s one industry that is often overlooked, yet holds the power to catalyze profound change: the accounting industry. Enter the Accounting Alchemy Network (AAN).
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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.
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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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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Mastering Construction Business Finances Through QuickBooks Desktop
Randal DeHart
MAY 24, 2024
Keeping track of sales, earnings, expenses, and purchases is fundamental to your construction business's overall health and sustainability. Many business owners dread bookkeeping and accounting tasks despite their proven importance.
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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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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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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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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.
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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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.
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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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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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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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.
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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.
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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Marcum Acquires Michigan Accounting Firm Croskey Lanni PC
CPA Practice
MAY 6, 2024
The accounting and advisory firm Marcum LLP has acquired Croskey Lanni, PC, a notable Detroit, Michigan area-based firm with an office in Boca Raton, Florida. Croskey Lanni brings six partners and more than 50 dedicated associates to Marcum. They have also been leaders in the charter school industry since its inception in the 1990s.
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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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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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