Blog posts for construction companies, including general business advice, construction accounting technology advice, and trends for construction companies. Thought leadership for Sage CRE software solutions and implementation tips & tricks. Supporting Construction and Real Estate Companies in the USA and Canada.
Beyond the Income Statement 5 Things to Know About Your Numbers Smart owners and managers use standard financial reports to study profitability and organizational health. But by looking beyond the Income Statement, you can find critical information to improve Estimating and Project Management. 1. What is my Margin (Gross Profit)? How does this relate to […]
Beyond the Income Statement Read More »
Save time and reduce errors when it counts! Automated workflows for contractor accounting software can help your company attain a more competitive position. There are many things that can impact and delay project deadlines — particularly when bidding on a project. Team members not following a strict process, approval delay, and inaccuracy of data compilation
Automated Workflows for Contractor Accounting Software Read More »
Software Performance Versus Function Is your Sage CRE software idling or racing along? Any Professional Services organization’s goal should be more than implementing new software or training staff to do efficient data entry. A true partner has a loftier mission, based upon a client’s business needs. And that means maintaining an ongoing dialogue with the
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Thinking of low-balling a bid? Does this sound like you? “We are having a hard time winning bids that result in profitable jobs. We can win short-term business by low-balling it, but we cannot survive this way.” Our advice? Never low-ball a job! You just need some help to improve your process. Here’s a conversation
Winning Bids that Result in Profitable Jobs Read More »
Keep your project above water Projects can get underwater quickly if you are not paying attention. Usually, the main reason a project gets off track is that labor costs creep ahead of the current completion level of the project. But, with some monitoring and adjusting, you will be able to proactively manage your project. The
Proactively Manage Your Project Read More »
How to determine your financial health Cash flow is always an important element in the smooth and successful operation of your construction business. It’s particularly key in meeting opportunities and demands. Ask yourself is your construction company in a cash flow crunch? Generating sales and managing operations are, of course, also important. But more
In a cash flow crunch? Read More »
Review this IRS checklist to shore up weak spots and improve your documentation in preparation for that unforeseen IRS audit of a construction company. The list comes from the actual Audit Techniques Guide that the IRS uses to examine construction companies. IRS Auditor’s checklist of items to examine Accounting manual or instructions providing guidelines as to what
IRS Audit of a Construction Company Read More »
Basic record keeping and financial differences Chances are, your construction business hires subcontractors, rather than employees, to perform some of the work. These arrangements obviously save your company a lot of time, money and headaches. Naturally, you’ll want to protect your use of independent contractors. But, what’s the difference, and why should you care? Here’s
Protect Your Use of Independent Contractors Read More »
Is your Accounting Software Stalling? Schedule a ‘Tune up’ Audit No one gets too worked up about an oil change or filter replacement, or even a dealer recall. And if you get a crack in your windshield you wouldn’t replace your whole car. Or would you? We frequently experience clients who will change out the
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What’s the Difference? Choosing software for your construction company today includes more deployment options than you had in the past. Today, you choose the software that works for your business needs with the best price — and you are all set, right? Not so fast! The choice between purchased licenses installed locally on your own computer (or
Subscription versus Purchased Software Read More »
As internal auditors, whether we have IT in our educational background or not, we have learned the basics around IT General Controls because so much of the control environment resides in systems. Many of us are familiar with COBIT, which outlines the key IT control objectives in terms non-IT auditors understand. But, if asked by our Audit
For the Non-IT Auditor: Talking ‘Cloud’ Read More »
