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Outsourcing: A Strategic Imperative for the Construction Industry

Construction Business Owner

Outsourcing: A Strategic Imperative for the Construction Industry Discover how Eide Bailly helped a Northwest construction company drive growth and achieve success through outsourcing. mhodges Tue, 04/30/2024 - 12:56 Alliance Partition Systems (APS) is a steel stud framing and drywall contractor located in the Northwest United States.

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How to Use Driver Accountability to Increase Profitability

Construction Business Owner

For any company with a fleet of light- or medium-duty vehicles, from service contractors to vendors and those in the transportation industry, increasing profitability often comes down to fostering an environment of greater employee accountability.

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Clients alerted to contractor insolvency threat as industry emerges from recession

Construction Law

Turner & Townsend is warning clients that they need to carry out ‘robust procurement and pre-qualification checks’ to minimise the risk of contractor insolvencies impacting programmes as the industry climbs out of recession. See the panel to the right.

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The Difference Between A Construction Accountant And A Tax Accountant

Contractor Bookkeeping

You are a master in the construction industry, so you recognize what to look for in your particular field and quickly observe if someone has the skillsets, and you proceed accordingly. The dirty secret is that Tax Accountants operate like Rough Carpenters because they work fast and furious, and they are paid piece work.

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Setting Up the Chart of Accounts: QuickBooks for Contractors

Levelset

The Chart of Accounts is the heart of every contractor’s accounting system , whether you’re using QuickBooks or any other construction accounting software. In this article, we’ll explain how a contractor’s Chart of Accounts should be set up in QuickBooks , with a free customizable template for construction. .

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Managing Accounts Receivable in QB: QuickBooks for Contractors

Levelset

The construction industry runs on credit. Contracts are almost never paid up front, so contractors provide labor, materials, and equipment on credit with their customers. As a result, every construction business records transactions to Accounts Receivable (A/R) until they actually receive payment.

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3 Keys for Contractors to Navigate New Revenue Recognition Standards

Viewpoint Construction Technology

Revenue recognition standards were recently updated by the Financial Accounting Standards Board , and these updates will have an impact in the construction industry. To help contractors prepare, Viewpoint recently hosted a webinar on how contractors can get ready for the new standards. So where should contractors start?