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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. 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

Work in progress figures might not sound like something you need to think much about. 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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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. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Speed Up Receivables. Use Financing to Provide a Cushion.

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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. No two projects look the same, and even the best-prepared estimates give contractors and clients only a partial picture of the actual scope of work and the costs involved. Speed Up Receivables. Use Financing to Provide a Cushion.

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Custom Home Builders Have Unique Bookkeeping Needs

Contractor Bookkeeping

For a short while the deposit is actually a liability not income until the part is futher along in the process. Custom Home Builders - Who also do some remodel work, buy houses for rental inventory and buy houses to fix up and sell, house flippers, create special problems for regular bookkeepers. We know what to do!