Accounting & Finance

Construction Accounting & Finance

Effectively managing the accounting and finacial function of your construction company is critical to gain a successful, profitable business. Our articles from industry experts provide information on a range of subjects in construction accounting including: applying the percentage-of-completion method or completed contract method, job costing, improving cash flow and managing debt, reducing overhead, understanding financials, implementing tax strategies, performing audits, building equity and wealth, implementing a construction accounting program, using construction accounting software, and hiring a payroll provider.

Accounting Software Feature Line-Up No. 9: The Closer - "Live" Customer Support

Written by Mike Ode

Selecting the ideal construction accounting system, like creating a great baseball batting order, requires an understanding of each player's strengths and skill set. Software technical features are critical for success, but there is another thing that contractors can't afford to overlook: customer support.

Tags: 2009 October Issue , accounting , construction software , cutomer support

Construction Business Best Practices Series, Step 4: Financial Systems and Controls

Written by George Hedley

Editor's Note: This article is the fourth in a series of twelve to lead you toward entrepreneurial excellence by our regular contributor George Hedley, owner of Hedley Construction and Hardhat Presentations. To read part three, click here. To read part five, click here.

As your construction business grows, you get to the point where you can't do it all yourself. You really don't like paperwork, accounting or bookkeeping. But you have to pay your bills, balance your checkbook and collect your receivables to keep your doors open.

Tags: 2006 April Issue , accounting , financial , George Hedley

Purchasing Co-Ops Give Contractors an Edge in Tough Times

Written by Steven Van Yoder

Kelby Frederick runs Flooring America, a family-owned flooring business in Denton, TX. In 1994, Frederick joined a purchasing cooperative to address the challenges big-box retailers posed for his company's survival. "Home centers were taking advantage of our fragmented industry and coming after our customers," says Frederick. "Yet, we were too small to get manufacturer rebates like our larger competitors."

Tags: 2009 September Issue , management , organization

Management Basics #6: Do You Know Your Numbers?

Written by Fred Ode

Editor's Note: The following is the sixth part of our ten part series called "Management Basics," by Fred Ode, CEO, chairman and founder of Foundation Software. To read part five, click here. To read part seven, click here.

If you're anything like the typical entrepreneur, you are focused, ambitious and product-driven. You have confidence in your skills and the intelligence to carry through on your business goals. But do you have another all-essential attribute that is critical to long-term success? Do you know your numbers?

Tags: 2006 February Issue , accounting , financial , Fred Ode , management