Recent Articles

Project Numbering

Many contractors use the street address or the lot number as their identifying tool. I suggest using the contract date for the project. It is important to use a dating system that allows for easy access and reporting format. I suggest using the year first, the month and day format. As an example, if the contract was signed on February 16, 2013, then use 130216 as your numbering system. This allows for a chronological ordering system for the future.

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 [...]

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 [...]