RedHammer Blog

President Trump’s second term will shape the construction industry with policies focused on infrastructure spending, tax reform, and streamlined permitting. Challenges like labor shortages and material costs remain, but initiatives like the Department of Government Efficiency (DOGE) aim to reduce bureaucracy and drive transformative projects.

To Overbill or Not to Overbill, That Is the Question" explores overbilling in construction as a financial strategy to boost cash flow, weighing its benefits against ethical risks. It emphasizes aligning billing with project progress and stresses ethical practices and transparency to maintain client trust.

In construction, effective Work-In-Progress (WIP) management is crucial for financial health. This blog provides a guide to avoiding common WIP pitfalls and enhancing project profitability through accurate forecasting, documentation, and alignment between accounting and project management.

As construction companies grow, managing complex workflows and detailed job costing becomes essential. Intuit Enterprise Suite extends QuickBooks Online, adding advanced features like automation, multi-entity management, and project tracking to streamline operations and support scalable growth.

Streamline your construction accounts payable with software tailored for job-specific workflows, cost codes, and vendor management. Learn about key features, integration tips, top providers, and how AP automation can enhance efficiency, reduce errors, and boost project profitability.

A GL insurance premium audit can be complex for construction companies. This guide outlines best practices, from managing vendors and segregating job costs to preparing financial records and understanding insurance policies, ensuring you stay compliant and avoid costly penalties.

The Construction Company Accountant plays a vital role in overseeing the financial health of construction projects, ensuring that costs are accounted for and reported accurately. They are key partners in ensuring that construction projects not only stay on track but also deliver on financial goals.

CFMA's 2024 Financial Benchmarker shows the construction industry's strong performance in 2023 despite economic challenges. Companies achieved a 10.4% revenue increase and higher profitability, with net income before taxes at 6.3%. Top firms excelled in cost management and asset use, indicating areas for improvement industry-wide.

In the fast-paced world of construction, managing finances can be especially challenging due to the complexity of long-term projects, multiple job sites, and changing contracts. Construction companies must adopt construction accounting software that complies with Generally Accepted Accounting Principles (GAAP).

Cost codes are vital for accurate job costing in construction. This guide covers their importance, how to set them up in QuickBooks Online, and best practices for improved budgeting, financial reporting, and cost control, ensuring better project outcomes.