Recent Articles

Phase Accounting

A type of accounting used in construction or large item construction breaking down the structure in phases or identifiable groups allowing the reader to interpret the data and make positive changes to achive the end goal of a great product at a reasonable price.

Project Reports – Introduction

06/09/2015

There are basically three groups of financial based project reports.  Each set has its own priorities and purposes.  Project reports are a function of production reporting with the exception of the balance sheet set (commonly used for cash flow [...]

Construction Accounting Terminology

05/15/2015

In construction accounting accountants and bookkeepers use certain terms and there are distinct meanings associated with these terms.  This article is designed to introduce beginner accountants and contractors to these terms from the perspective of [...]

Progress Billings in Construction

04/27/2015

Just like a tip of an iceberg, a progress billing for a construction project is an invoice for a small part of the overall contract value.  It needs to be recorded correctly and presented to management in a way that is understandable and beneficial [...]

Project Accounting Principles for Residential Contractors

04/04/2015

Almost every residential contractor I had as a client had no clue of their financial position as it related to any one of their residential contracts.  None of them knew whether the project was fully funded, over funded or unfunded at any point in [...]

Using QuickBooks in Construction Accounting

06/08/2013

Over the last 17 years I have become a fan of QuickBooks over other accounting software.  Having been involved in construction accounting, I have set up over 9 different construction clients on this software.  Overall it is the easiest and one of [...]

How to Use Class Accounting in Construction

02/05/2013

Class accounting is a form of accounting whereby the revenues and direct costs are grouped into divisions within the company.  It is a very effective form of accounting in construction.  Learning how to use class accounting in construction is easy [...]
1 2