article thumbnail

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

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. That’s accounting’s job, right? 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.

article thumbnail

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

ProcurementExpress.com

Work in progress figures might not sound like something you need to think much about. That’s accounting’s job, right? 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.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

From Complexity to Collaboration: How Bridge Helps Designers and Contractors Stay Ahead

Autodesk Construction Cloud

This is a tall order in and of itself, and when combined with a shrinking workforce, it’s clear that we need to find even better ways of working together to keep up with demand. That’s why teams are increasingly moving to design-build delivery methods—which typically finish 102% faster than traditional methods.

Design 52
article thumbnail

Lean Construction – Overcoming decades of mistrust, lack of communication, and opposition between facilities owners, designers, engineers, and builders.

Job Order Contracting

Lean Construction – Overcoming decades of mistrust, lack of communication, and opposition between facilities owners, designers, engineers, and builders… possible? Design-Bid-Build. Traditional design-bid-build (DBB) delivery process with design, bidding, and construction in separate, sequential steps.

Design 130
article thumbnail

5 Critical Construction Project Reports your System Should Pull Without Fuss

Viewpoint Construction Technology

Here’s a list of key reports that you should be able to pull at any moment from your construction project management software: Basic Accounting Reports. At a bare minimum, you’ll need the following for your accounting function: profit and loss report, balance sheets, trial balance and trading summaries. Asset and Plant Management.

Cash Flow 130
article thumbnail

Essential BIM Terminology

Viewpoint Construction Technology

Often just considered 3D design, building information modeling (BIM) also acts as a collaborative work platform. This contributes to faster project delivery as changes are minimized in the design phase. This contributes to faster project delivery as changes are minimized in the design phase. BIM Levels. CIC BIM Protocol.

BIM 139
article thumbnail

What Is Xero Accounting Online And Why Are We Offering It?

Contractor Bookkeeping

What Is Xero Accounting Online? Xero Accounting Online Is An Established Leader In Accounting Software having been around since July 2006 and has quickly grown to over 200,000 users. Xero Accounting Online Is The Global Leader in online accounting with over 200,000 paying customers in over 100 countries.