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Seven Tips To Help Your Construction Business Adjust For Inflation

Randal DeHart

Inflation has ballooned worldwide in recent months, and there's no question that small construction businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. This can lead to operating at a loss - spending more money than you make.

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Setting Construction Business Financial Goals For 2023

Randal DeHart

However, your construction business (and personal) budget is one area where you should keep your resolutions from slipping. Construction Cash Flow Construction Bookkeeping And Accounting Key Performance Indicators Contractor Tips Improve Construction Cash Flow Boost Construction Profitabilit

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The Advantages of Paperless Payroll In Your Construction Company

Randal DeHart

There are many benefits to digital payroll for construction business owners and staff alike. Construction Cash Flow Construction Bookkeeping And Accounting Key Performance Indicators Contractor Tips Improve Construction Cash Flow Boost Construction Profitability

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Preventing Fraud in your Construction Company

RogerRossmeisl

Fraud is costly for all victimized companies, but it’s even worse in the construction sector. Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud. Fraud Briefs Construction Company Fraud

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Starting And Operating A Small Construction Business On Limited Funds

Randal DeHart

Most of you came from the skilled craftsman trades; some worked as construction company managers and have now started or thought of starting your business. If you just did, congratulations, you have decided to own and operate a construction company.

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Key Drivers To Improve Construction Profitability And Cash Flow

Randal DeHart

Enlightened contractors like you understand the value of developing your own unique Construction Contracting System, a collection of documented repeatable processes and operation manuals. The key is continuously refining your construction company's practices and procedures.

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Top Construction Company Marketing Blueprint

Randal DeHart

Construction contractors like you are primarily in the "Hurry Up" and "Wait" zone. Construction Company Marketing Ideas For Contractors That Work Marketing Tracking Construction Marketing Contractors Emergency Marketing Plan

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Management Priorities For New And Experienced Construction Company Owners

Randal DeHart

In the past, Construction Project Managers were laborers or served an apprenticeship in one of the skilled construction trades and were promoted to foreman. Because of this, many construction companies failed and went out of business due to the Cost of Chaos in their businesses.

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Cost-Reduction Strategies For Construction Company Owners

Randal DeHart

Cutting costs can be a quick and easy way to improve the profitability of your construction business. Construction Bookkeeping And Accounting Contractor Tips Cost-Reduction For Construction Companies Reducing costs

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What Sets Your Construction Company Apart?

Randal DeHart

But, have you always wondered how a small construction company like yours could stand out from the crowd and its competitors? Construction Company Contractor Construction Competition Construction CompetitorsLet me start by saying it's good if you have competition.

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A Guide To Construction Client Retention

Randal DeHart

Folks accustomed to getting things done quickly and efficiently do not mind paying professionals for servicing, repairing, remodeling, or building new construction projects related to their houses and commercial buildings.

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Common Construction Payroll Implementation Errors You Can Easily Avoid

Randal DeHart

QuickBooks For Contractors Construction Bookkeeping Business Process Management For Contractors Construction Project Managers Construction Project Managment Project Management Project Management For Construction

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How Technology Helps Construction Businesses Save Money

Randal DeHart

The use of technology in construction has come a long way. Many articles have already been written about how construction has been sluggish in adopting new advancements in technology compared to other business sectors.

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How To Prevent Your Construction Company's Yearly Cycle Of Chaos

Randal DeHart

Most construction business owners who reach out to us describe this as their "Year End Madness" to prepare their documents for the tax accountant. The year is almost over. Fourth-quarter and year-end deadlines are approaching.

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Construction Company Employee Vs. Contractor - What You Need To Know

Randal DeHart

Depending on the nature of your construction business, you may have workers who are employees or contractors, or you may have both. Hiring Employees 1099 Employee Construction Bookkeeping And Accounting Contractor Tips Payroll For Construction Contractors

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Power Up Your Construction Company Payroll Processes

Randal DeHart

You build your construction business, hire a few employees, and things tick along pretty well. Payroll Loan Payroll Processing Payroll Tax Payroll Options Construction Bookkeeping And Accounting Contractor Tips Payroll For Construction Contractors

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Ways To Get Rid Of Construction Accounting And Bookkeeping Confusions

Randal DeHart

Looking for ways to make your job easier is the goal of all construction contractors. Construction Bookkeeping Construction Accounting Construction Bookkeeping And Accounting Contractor Tips Accounts Payable For Contractors Accounts Payable

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Complexities of Sales Tax: Construction

TaxConnex

If you’re a construction contractor – especially if you’re engaged in contracts in different states – you have to evaluate your sales tax responsibilities in each state where you have customers. Generally, a business that considers themselves in the construction industry is performing a service and most services are excluded from sales and use tax. That might be true in some states but different states have different rules when it comes to construction services.

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Construction Company Employee Compensation And A Note On Taxes

Randal DeHart

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees.

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Four Key Areas To Evaluate In Your Construction Business Budget

Randal DeHart

There is no better time to reflect and think seriously about your construction business. Construction Bookkeeping And Accounting Technology For Your Construction Company Automated Data Entry Construction Systems And Processes Contractor Guidance Construction Business Budget

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How To Balance Profit Centers And Cost Centers In Your Construction Company

Randal DeHart

Success in operating a profitable construction business is all about maintaining the proper balance of control over both The Profit Centers and The Cost Centers. If either one gets too powerful and is allowed to run your construction company, it can cause more damage than good.

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Bad Business Practices In Construction Bookkeeping

Randal DeHart

One of the biggest challenges construction company owners like you have with an in-house bookkeeper is training them to work for your best interest, not theirs, and deliver consistent results and the reports you can trust daily, year after year.

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The Solution To Your Construction Company Equipment Dilemma

Randal DeHart

Is it time for your construction business to invest in some new equipment? Your construction business is expanding at a fast rate. - Construction CompanyAnd if so, is it a more brilliant business decision and cost-effective to rent or buy?

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Overcoming Your Most Common Construction Business Time Waster

Randal DeHart

Every day you make financial decisions about your company, which affect how successful and sustainable your construction business is. Keeping up with paperwork is a typical construction business timewaster we noticed in more than thirty years in the industry.

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How To Make Xero Accounting Work For Your Construction Business

Randal DeHart

Perhaps you own a service and repair firm specializing in plumbing, electrical, HVAC, or maybe a handyman service or someone who does small construction projects that last from a few hours to a few days, and you only need to give your customer or client one invoice?

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Managing Payment Terms For Your Construction Business Clients

Randal DeHart

Investors, developers, and shrewd business people designed the most popular method - those who understand the concept of divide and conquer - it is when contractors get little or no down payment for a construction project, do all the work, including change orders, and then try to collect their money.

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Unconventional Ways To Market Your Construction Business

Randal DeHart

Profit and Growth Strategies For Contractors Construction Marketing offline marketing for contractors Contractor GuidanceOne of your greatest fears is wasting money on a less than good lead. They may or may not have any genuine desire for services.

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Construction Fraud Cases

FraudFiles

What kinds of things can forensic accountants be involved in relative to construction fraud? Also common is the construction company claiming a project is further along than it really is in order to get paid more than it is entitled to.

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Common Construction Contractor Bookkeeping Issues With Accounts Payable

Randal DeHart

A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills. Construction Bookkeeping And Accounting Contractor Tips Accounts Payable For Contractors Accounts Payable

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Ways To Sustain The Life Line Of Your Construction Company

Randal DeHart

Your construction company can run into problems by not charging enough for goods or services, having late-paying clients, growing too quickly, or simply spending too much money. Cash flow refers to the movement of money into and out of your business.

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How To Prevent Employee Theft In Your Construction Company

Randal DeHart

You may not know how employees can steal from you as a construction business owner. Bookkeeper Embezzlement Embezzlement Contractor Bookkeeper Embezzlement Construction Bookkeeper Embezzlement bookkeeper theft Employee Theft

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Proven Construction Business Processes When Creating Your To-Do List

Randal DeHart

When you're a construction business owner, your to-do list is often long and constantly growing longer. Business Process Management For Contractors Winning Teams Construction Productivity Contractor Guidance contractor delegation

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Five Effective Ways To Find New Construction Clients

Randal DeHart

Many of us who owned and operated construction companies spent thousands of dollars on these experts and, based on their recommendations, spent tens of thousands of dollars annually in full-page yellow page ads as close to the first position as possible.

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The ERP Takes A Wrecking Ball To Construction Workflow Friction

PYMNTS

In the construction industry, the ERP is especially valuable considering the complex network of collaborators, and subsequent high volume of data, involved in a single project. According to Satran, there are three main roles the ERP plays for construction firms today.

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Staying on Construction's Cutting Edge

Intuitive Accountant

Sage's Dustin Stephens goes inside how the new Sage Field Operations Integration with Sage Intacct Construction is helping today's construction financial professionals

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Sage Field Operations Now Integrated with Sage Intacct Construction

Intuitive Accountant

Pairing the mobile construction management app with the proven native cloud accounting platform helps construction businesses streamline service operations

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Centsoft Unveils AP Automation For Construction Industry

PYMNTS

To help project managers and administrators save time, Centsoft has unveiled an accounts payable (AP) automation technology for firms in the construction industry. B2B Payments accounts payable AP automation B2B Centsoft construction invoice automation News What's Hot In B2B

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Diversity in accounting: Still under construction

Accounting Today

Diversity and equality Practice management Employee relations

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Procore + Xero: Building a new platform partnership to help digitalize construction

Xero

Speaking of building, I’m proud to announce our new partnership with Procore , connecting their industry leading construction platform into Xero. . Construction is an important industry focus for Xero, and we are passionate about helping the industry digitalise with cloud solutions.

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Construction Executive Names Withum in Annual Top Firm List

Withum

Withum is proud to announce that Construction Executive , a leading publication in the construction industry, named Withum in their list, The Top 50 Construction Accounting Firms. Louis Sandor III, CPA, CCIFP Partner, Practice Leader, Construction Services.

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Staying on the Construction's Cutting Edge

Intuitive Accountant

Sage's Dustin Stephens goes inside how the new Sage Field Operations Integration with Sage Intacct Construction is helping today's construction financial professionals

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Forensic Accounting for Construction Claims

FraudFiles

Tracy Coenen talks about the prevalence of fraud allegations related to construction projects and the work a forensic accountant can do in construction claims. The construction analysis includes a comparison of the following numbers: Total expected cost of the project.

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Cost Overruns in Construction Projects And How to Manage Them

Steve Feinberg

A study from KPMG found only about a third of all construction projects have been completed within even 10% of the budget in the past three years. What Is Cost Overrun in Construction Projects? Reasons for Cost Increase in Construction.