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This is such great advice from a David Wintzer, general contractor. So so so important. https://lnkd.in/gu_z8cHg #davidwintzer #FractionalCFO #constructionaccounting #jobcosting #homebuildersoftware

When asked why the team at The Profit Constructors provides construction-centric accounting and advisory services, the short answer is that construction contractors need us. But there is a longer answer, and it may surprise you. Look at what we say on the subject https://lnkd.in/eEQyuCsv to get the full scoop. (A 3-minute read.) #Advisory #Contractor #ArticleOfTheDay

🚨 Construction Contractors! We can help you streamline CIS Returns. Contracting in the construction industry involves juggling various filing responsibilities within strict deadlines. Missing these deadlines can lead to hefty fines – time better spent on your projects! Understanding the tax status of your employees and subcontractors, and managing the intricate administration, can be complex, so let us take the strain for you! Learn more 🔗 https://buff.ly/48O7mh8 #CISReturns #ConstructionIndustry #TaxCompliance #BranagansAccountancyServices #BranagansAccounting #RotherhamAccountants #AccountingProfessionals #AccountingServices #FamilyBusiness #BusinessGrowth #FinancialExperts

Unraveling Construction Accounting! Ever wondered what makes construction accounting unique? https://buff.ly/3DsEQ75 Let's break it down: 💲Material Costs: The price rollercoaster! Fluctuating material expenses can shake up budgets. Smart accounting keeps you steady. 🌧️Weather Woes: Nature's Curveball! Unforeseen weather can delay projects. Accounting adapts, ensuring your profits don't wash away. 👷 Labor Challenges: Workforce wonders! Managing labor costs demands sharp accounting to stay on budget. Builders, it's not just about bricks – accounting builds stability too! Share your insights! Faced similar hurdles? Let's chat! 💬👇 #ConstructionAccounting101 #BuildYourNumbers

Get a masterclass on construction accounting! Make sure you know how to discuss the importance of a job cost system, calculate earned revenue, identify what a construction company expects from its financial professional, and use industry data to benchmark your company. Don't wait — you can still catch days 3 and 4 by registering at ➤ https://lnkd.in/d7jnP4Xz

Construction projects easily go over budget without diligent monitoring. Carefully manage material and labor costs, which account for most expenditures. Use technology like drone surveys to avoid over-ordering materials. Review budgets weekly and adjust for deviations. Change orders and delays throw off budgets - offset with contingency funds. Many variables during a build lead to typical overruns. Insufficient planning around permitting and regulations adds delays and costs. Poor communication with subcontractors can result in costly errors. Scope creep from uncontrolled client changes is another budget buster. Identify major cost risks upfront. Aside from project costs, control overhead by analyzing expenditures for equipment, facilities, and office needs. Avoid unnecessary software subscriptions and cut extravagant marketing or travel costs. Negotiate discounts from suppliers and vendors. Running a tight ship on costs sustains profitability. For more information on how The Construction CPA can assist you with tax planning, bookkeeping, and financial analysis for your construction firm, please send me a DM. #TheConstructionCPA

Construction projects easily go over budget without diligent monitoring. Carefully manage material and labor costs, which account for most expenditures. Use technology like drone surveys to avoid over-ordering materials. Review budgets weekly and adjust for deviations. Change orders and delays throw off budgets - offset with contingency funds. Many variables during a build lead to typical overruns. Insufficient planning around permitting and regulations adds delays and costs. Poor communication with subcontractors can result in costly errors. Scope creep from uncontrolled client changes is another budget buster. Identify major cost risks upfront. Aside from project costs, control overhead by analyzing expenditures for equipment, facilities, and office needs. Avoid unnecessary software subscriptions and cut extravagant marketing or travel costs. Negotiate discounts from suppliers and vendors. Running a tight ship on costs sustains profitability. For more information on how The Construction CPA can assist you with tax planning, bookkeeping, and financial analysis for your construction firm, please send me a DM. #TheConstructionCPA

Confused about 'Overhead Allocation' in construction accounting? It's allocating indirect costs to different projects. Need help deciphering? Book a free consultation now. #FinanceBuilder 🏗️ 👉🏻thenumbersbusiness.co.uk

The mobile nature of working in the construction industry makes it particularly challenging to track and record project expenses. This is because the cost of materials and labor can fluctuate from month to month, record-keeping is often done on the worksite, and there are many vendors and contractors involved in the budget. For those reasons, average pre-tax profit margins for general contractors range from 2.4% to as low as 1.4%. With razor-thin margins like those, even small mistakes can be the difference between making or losing money. At Altura Group, we specialize in the type of bookkeeping designed to handle these unique challenges and ensure that your profit potential is fully realized. We'd love to speak with you more: (813) 425-1972 #accounting #cpa #alturagroup #accountingfirm #financialsuccess #reminder #irs #taxseason #constructioninsurance #constructionbusiness

Find out how cool it can be to learn FERC Construction Accounting! Check out our online, on-demand class on FERC Accounting 101 - Construction Accounting. https://lnkd.in/d2Rv9yGx Perfect for new employees and a refresher for experienced team members!#electrification #electricutility #accounting #utility #cooperative