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The Right Accounting Software Can Increase Your Profits

Contractor Bookkeeping

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

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

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.

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How to Increase Cash Flow for Your Construction Business When You Can’t Get the Financing You Need From the Bank

Levelset

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. It’s unfair to feel like the bank and the contractor on all of your projects.

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Common Bookkeeping Pitfalls And The Value Of Outsourced Accounting

Contractor Bookkeeping

Although most construction company owners recognize the importance of careful financial management, few want to spend their time dealing with numbers. Avoid this pitfall by using a separate credit card and bank account for business, and being disciplined about separating expenditures.

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The upside of job costing: More accurate estimates means more money in the bank

Lets Build

Whatever your reason for getting into the construction business, a love for job costing and puzzling out profitability likely wasn’t a contributing factor. In a recent study of self-identified business owners, accountants, bookkeepers, estimators, and finance managers within the construction industry, 1.

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Starting And Operating A Small Construction Business On Limited Funds

Contractor Bookkeeping

Juggling existing financial commitments such as a mortgage or bank loan could put a squeeze on your business plans. Most of you came from the skilled craftsman trades; some worked as construction company managers and have now started or thought of starting your business.

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What Happened at the 2017 CFMA Conference?

Construction Business Owner

The Construction Financial Management Association (CFMA) is dedicated to serving the educational needs of construction financial professionals. Established in 1981, CFMA now has more than 7,800 members in 95 chapters throughout the United States and Canada.

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