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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. Real-time work-in-progress figures, or WIP, allow teams to become more efficient, effective, and remain in control. When the payment hits their account, they may mistake it for profit. That’s accounting’s job, right?

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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. Real-time work-in-progress figures, or WIP, allow teams to become more efficient, effective, and remain in control. When the payment hits their account, they may mistake it for profit. That’s accounting’s job, right?

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The New Preconstruction Advantage: Connected Quantification & Model Coordination in a Common Data Environment

Construction Business Owner

Each milestone or phase — from design to plan to build — requires many data handover cycles, increasing opportunities for rework. Staying on budget and on time while producing quality work is of utmost importance to all builders — but not all projects are created equally. The MacLeamy curve.

Modeling 234
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5 Critical Construction Project Reports your System Should Pull Without Fuss

Viewpoint Construction Technology

At a bare minimum, you’ll need the following for your accounting function: profit and loss report, balance sheets, trial balance and trading summaries. A modern system will also have integrated contract valuation capabilities (which results in auto-generated work-in-progress accounting entries). Asset and Plant Management.

Cash Flow 130
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Construction Bookkeeping Unique Features

Contractor Bookkeeping

Business Owners - Need three basic reports, Cash, Profit and Equity. Profit And Loss Report. Sales - Expenses) = Profit. It is easy to run reports to determine which items are profitable and unprofitable and make adjustments quickly as needed. -. Chart of Accounts Design Fees. Regular Bookkeeping. Cash On Hand.

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Construction Business Owner Blogs

Construction Business Owner

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. Just about every contractor has been there — a project starts out strong but, as it moves forward, delays and incidental added work and changes knock dollars and cents off of the bottom line. Home » Blogs.

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Top 10 ERP Solutions for Construction Firms

Construction Marketing

Managing a reputation for delivering high-quality projects, keeping your business profitable, your people productive, and your firm growing requires focus, commitment, and understanding. NetSuite, though not designed for the construction industry, is a solution that is flexible enough to deliver. Oracle ERP.

Software 196