When a company completes a contract, it records income and expenses only after the project is complete. Completed contract is a type of asccrual accounting with several advantages over cash-based accounting. However, the IRS places several restrictions on when companies can use this method.
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.
Read MoreStreamline 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.
Read MoreA 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.
Read MoreThe 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.
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