Construction Accounting Best Practices When you’re concerned about construction accounting best practices, it boils down to knowing how and why this issue matters. In a recent social post concerning a Fun Fact in the construction industry, we mentioned the Strat. This is what we said, “There is a kink in one leg of The Strat, a “towering” hotel and casino located in Las Vegas, Nevada. One reason we know is because we’ve looked at it. Another reason we know is that our founde

It’s Not About Being Standard Many construction contractors have come to expect very little from their accounting team. Maybe they expect: Bookkeeping. Reconciling bank and credit card accounts. Financial statements at the end of the month. Those things matter, but they are not enough on their own. If a contractor is trying to grow, protect margins, manage cash, and make smart decisions, they need more than basic accounting output. They need an accounting team that actually s

What Bankers and Bonding Agents Actually Want From Your Financials Bankers and bonding agents do want financial statements. But what they are really looking for is confidence in the numbers behind them. They want: Confidence that the numbers are clean. Confidence that the contractor understands them. Confidence that the reporting is consistent. Confidence that the story behind the numbers makes sense. And when that confidence is missing, the conversation gets uncomfortable f

Why Construction Contractors Hate Waiting for Answers In construction, waiting is expensive. Construction contractors frequently find themselves waiting. Waiting on material. Waiting on inspections. Waiting on approvals. Waiting on payments. The last thing a contractor needs is to be waiting on their accounting team. Useful construction business accounting means being available to contractors so they aren’t left waiting once again. But waiting (even for accounting info)