Accounting Banking Cash Flow Construction 
Levelset
MAY 23, 2022
In the construction industry, starting a new project means encountering automatic, upfront costs. How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” From buying materials to hiring crews, business begins when cash flows. Establish consistent accounting procedures.
Levelset
SEPTEMBER 30, 2022
As a commercial specialty contractor, it can be frustrating to have the crew, time, and skills you need to take on construction projects but not enough cash to purchase materials. Add in being denied a bank loan, and the frustrations mount. And when they are approved, they often don’t get the amount of funding they need.
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Contractor Bookkeeping
JUNE 5, 2020
Managing cash flow is a vital part of running a successful construction business. Some contractors think managing cash flow means keeping track of how much money enters and leaves their business, but there's actually more that goes into it. Starting Cash + Cash In - Cash Out] = Cash Flow.
Levelset
MARCH 21, 2022
Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Learn More.
Contractor Bookkeeping
MARCH 26, 2021
Most construction business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions. What three reports do you need for your construction business? #1
Levelset
JUNE 6, 2022
Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor.
Contractor Bookkeeping
APRIL 23, 2021
Some construction business owners find themselves in the difficult position of running a business that appears to be profitable but still having no money in the bank. After all, a lack of adequate cash flow is one of the leading causes of small construction business failure. It's a critical situation to address.
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