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3 cash flow forecasting tips for your next big construction project

Viewpoint Construction Technology

Effectively managing cash flow is critical for contractors’ success. Considering these complexities, it’s easy to understand why, throughout the life of a project, a variety of things can change — directly impacting the original cash flow forecast. Create Rolling Enterprise Cash Flow Forecasts.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. Let’s take a look: Free Download: 6 Forecasting Best Practices All Construction Teams Need to Know Click Here. There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement, and more.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. Let’s take a look: [content_upgrade cu_id=”4502″] Free Download: 6 Forecasting Best Practices All Construction Teams Need to Know[content_upgrade_button]Click Here[/content_upgrade_button][/content_upgrade]. Embrace Automation.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

WIP figures refer to products that are part-way through the production or assembly process. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. WIP is one element of an inventory account. Well, not exactly.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

That’s accounting’s job, right? WIP figures refer to products that are part-way through the production or assembly process. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. Well, not exactly.

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Unique Strategies For Contractors Preparing To Meet Increasing Demand

Contractor Bookkeeping

The past several years starting in late 2008 have been anything but normal and frankly, we are having a tough time with the economic forecasts models we follow including our own internal ones. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to people like you so stop missing out!

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How to Start a Painting Business: 9 Keys to Growth & Success

Levelset

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. We have a contractor licensing guide for every state you can refer to. Obtain a business bank account and any software or staff you’ll need for accounting and bookkeeping.