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A recent alert from Maryland-based cybersecurity firm Huntress highlights a concerning vulnerability for construction companies using on-premise accounting and project management software with default login credentials. The ripple effect of cyberattacks isn’t confined to a single construction firm.
As the year draws to a close, construction business owners find themselves in a critical period of reflection and preparation. Access to the best available tools and information is vital in almost any operation but is especially crucial in the competitive construction and home service industry. you can use our promo code YEAREND40.
As the year draws to a close, construction business owners find themselves in a critical period of reflection and preparation. Access to the best available tools and information is vital in almost any operation but is especially crucial in the competitive construction and home service industry. you can use our promo code YEAREND40.
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.
But what does it really mean, and why is it crucial for your construction business's success? If you've been a long-time reader or a contracting company owner, you've probably heard about " Cost of Goods Sold " (COGS). Understanding COGS isn't just about accountingit's about making smart decisions for profitability, pricing, and more.
Many small business owners need help keeping their accounts receivable in check, which can ultimately impact their business's health and sustainability. How often have you been waiting on overdue invoices? Do you have enough cash flow to cover next month's expenses? If this sounds familiar, you're not alone.
Forvis Mazars, ranked among the largest public accounting and consulting firms in the United States, is expanding its presence in Florida with the addition of MSL, effective November 1. MSL has a 50-year legacy of building deep relationships with its clients across Florida.
The Professional Services Edition supports critical processes for firms where project-based accounting and resource management and optimization are essential for success. The company’s core offerings include resource management, CRM, project planning, scheduling, accounting and time and expense management.
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
For the fifth time, top 10 accounting firm CLA (CliftonLarsonAllen) has been ranked as the No. 1 accounting firm catering to businesses in the construction industry by the trade magazine Construction Executive. CLA has worked hard to know and help our clients in the construction industry.
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.
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.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
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!
Menzies LLP - A leading chartered accountancy firm. Overview The Government has announced a series of policy and funding reforms aimed at increasing housebuilding and strengthening skills within the construction sector, in a bid to support economic growth and meet long-term infrastructure demands.
Menzies LLP - A leading chartered accountancy firm. Overview The Government has announced a series of policy and funding reforms aimed at increasing housebuilding and strengthening skills within the construction sector, in a bid to support economic growth and meet long-term infrastructure demands.
Not everyone knows constructionaccounting, 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".
Certain industries — for example, construction, real estate, manufacturing and transportation — are usually more vulnerable to employee theft, according to the Association of Certified Fraud Examiners (ACFE). Construction Some types of fraud are more prevalent in the construction industry, particularly payroll and billing fraud.
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…
We often overlook the immense value that construction contractors bring to our communities. From building our homes and schools to developing infrastructure and commercial spaces, construction contractors like you play a vital role in shaping our world. Your contributions are undeniably essential, yet they often go unrecognized.
If you are a ProAdvisor, Consultant, or Accountant wanting to support construction businesses as they digitally transition, you won’t want to miss this survey, which will provide valuable insights into the industry.
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.
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.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
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.
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.
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.
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:
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
Speaking of building, I’m proud to announce our new partnership with Procore , connecting their industry leading construction platform into Xero. . Chances are if you work in the construction industry, have a large client base that does, or are looking to expand your focus into the sector, you know who Procore is.
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.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
Communication is crucial in the construction industry, and active listening plays a significant role in fostering successful communication. For construction professionals, this skill can improve client relationships, make fewer errors, enhance teamwork, and ultimately increase project success.
Since he was young, Johnno Green has had a penchant for construction. From the early days of building cubby houses and forts, Johnno has turned his childhood passion into a growing construction business with a team of carpenters, plasterers, painters and even his own apprentices. And this is how JCG Projects was born.
Avoiding cash flow crises is crucial for the success and sustainability of your construction business. Managing cash flow is vital for small business owners. Poor cash flow management can create significant challenges even if your business is profitable.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
In today's competitive business landscape, establishing a personal brand is essential for standing out in the construction industry. Whether you're a contractor, architect, or engineer, cultivating a professional image differentiates you from competitors and fosters trust and credibility among clients and partners.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Accountingfly can assist you!
9 min read June 28th, 2024 Every year, business leaders in the construction industry fight a constant battle to beat out the competition and win work to cover their costs, stay operational, keep their crews working, and turn a profit.
Consider this scenario: A couple wanting to sell their house expresses interest in your remodeling service, presenting an exciting opportunity that could significantly elevate your construction business. However, they have a requirement: they want the job done in three weeks. Now, you're caught in a challenging position.
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