Your accounting system can give you hundreds of numbers. That does not mean you should monitor hundreds of numbers every month. Revenue, profit, cash, receivables, job costs, estimated costs, actual costs, Work in Progress, liabilities, margins, and dozens of other...
Your accounting system can probably produce more financial reports than you will ever want to read. Profit & Loss Statements. Balance Sheets. Cash Flow Statements. Job reports. Work in Progress reports. Accounts Receivable Aging. Accounts Payable Aging. And plenty...
Your construction business can be busy without being financially healthy. Revenue may be growing. Jobs may be booked months ahead. Customers may be sending payments. There may even be a comfortable amount of money in the bank. Those are useful pieces of information....
Money comes into your construction business, but sometimes it can feel like it leaves almost as quickly. Customers are paying. Jobs are moving. Revenue may even be growing. Yet when you look at the bank account, you may find yourself wondering: Where is all the money...
How Contractors Can Tell If Their Construction Business Is Profitable You have work on the schedule. Crews are busy. Invoices are going out. Money is coming into the bank. But is your construction business actually making money? That question can be harder to answer...
Why Most Construction Companies Don’t Have a Bookkeeping Problem When a contractor tells me they’re struggling financially, the first thing I don’t assume is that they have a bookkeeping problem. More often, they have a visibility problem....
