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2023 industry recession to be deeper than first forecast

Construction Enquirer

this year after economists at the Construction Products Association sharply downgraded forecasts for the second time. Falling private new housing combined with recent government delays to major infrastructure projects has prompted the spring forecast downgrade from a previously forecast 4.7% fall in output. in 2023 and 1.2%

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Job Costing Accounting Vs. Regular Accounting

Contractor Bookkeeping

There is some confusion about the differences between job costing accounting and regular accounting which leads some contractors to believe they can get what they need from any bookkeeper and the cheaper the better. Two Basic Types Of Accounting. #1 Tax Accountants are good people and have a place in the accounting world.

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A Cash Flow Guide for Architects

Levelset

Let’s take a look at the basics of cash flow and how architects can budget their expenses and forecast their income to stay in good financial standing. This is in contrast to an accrual basis , which is a form of accounting that tracks revenue and expenses when they are incurred, not when they are paid or received.

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20+ Fresh Releases for Autodesk Construction Cloud

Autodesk Construction Cloud

This keeps the office team aware of project progress and empowers field teams with productivity forecast to adjust or make improvements. Bridge | Share Closed Submittals Now with the ‘Publish Closed Submittals to Files’ release users can also share closed submittals across projects or accounts using Bridge.

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

ProcurementExpress.com

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. They also serve as a way to check up on the financial health of your organization and ensure that you’re budgeting and forecasting accurately.

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How to Avoid Running Out of Cash on a Construction Project

Levelset

Otherwise, you could be overdrawn on your account. Without incoming revenue to cover those costs, you’ll have to overbill another project to cover them. Forecast cash flow. They include leveraging trade credit accounts from vendors, bank lines of credit, credit cards, invoice factoring, and equipment financing.

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Do Contractors Need Every QuickBooks Feature?

Contractor Bookkeeping

Accrual Basis is generally for internal use by the contractor to make decisions about operations and forecasts. The Next Two Profit & Loss Reports Show Accrual Vs. Cash And % of Income. The Percentage Of Income Is very Useful For: #1 Comparing changes year over year. #2 Xero Outsourced Construction Accounting Services.