Posts by Jennifer Devine
Improving Accounting Processes in the Construction Industry
The construction industry is known for its complexities and challenges in financial management. With fluctuating costs, tight deadlines, and countless variables affecting project outcomes, having robust financial planning, bookkeeping, and accounting processes in place is crucial. Keeping up with modern technology can seem like an impossible challenge when you’re a contractor or running a construction…
Read More
Maximizing Profitability: How Your Accounting Team Can Help Your Construction Firm Reduce Overhead Costs
In the competitive world of contracting and construction, controlling overhead costs is crucial for maintaining profitability and staying ahead. Now is an important time for contractors and construction firms to take stock of overhead expenses and manage them to ensure profitability. Your accounting team plays a vital role in this process, as they possess the…
Read More
Overcoming Inflation Challenges in the Construction Industry
How to Overcome Inflation Obstacles & Improve Cash Flow Inflation has become a global reality that affects our daily lives – from grocery store shelves to the local gas station. Unfortunately, this economic pressure isn’t solely limited to everyday items; contractor and construction firm costs have also skyrocketed in recent years due to inflationary pressures.…
Read More
The Importance of Timely Bookkeeping
Bookkeeping is essential to running a business, no matter its size. Keeping accurate and up-to-date financial records is crucial to making informed decisions, managing cash flow, and staying compliant with tax requirements. After the end of the financial year, it’s critical to complete bookkeeping in a timely manner to ensure the business’s financial health is…
Read More
Managing Backlog for Construction Firms and Contractors
Having a healthy project backlog can indicate a healthy financial status. Having projects on the horizon is amazing, but if not managed properly, having more work can be worse than having little work. A backlog can create challenges for which you must prepare in advance. You must ensure that you’re focused on more than what’s…
Read More
6 Signs It’s Time to Replace Your Accounting Firm
Business owners are, of course, concerned with keeping on top of their company’s financial status. That’s why you and other business owners work with professional accountants to help maximize your profits and grow your business. With the right outsourced accounting firm in place, you have a fierce protector of your revenue and a sage advisor. …
Read More
9 Steps to Find the Right Outsourced Accounting Partner
Engineers, architects’ surveyors, construction firms, and other industrial sector companies that decide to call on an outsourced accounting partner have to determine which company to trust. Choosing the right accounting, bookkeeping, and financial controller services firm to help you maintain your books, identify and evaluate costs, and strengthen your financial strategies takes time. The task…
Read More
How to Pay Your Subcontractors and Submit 1099s
Business owners often use subcontractors, especially in the construction industry. Contractors depend on them to complete projects instead of hiring full-time employees. And often, these subcontractors specialize in their crafts. Paying subcontractors is a different task them paying your regular employees. These self-employed individuals set their rates and pay their taxes. Here, we give you…
Read More
The Top 9 Reasons to Choose Sage Intacct for Your Business
Are you looking for cloud-based accounting software that can help your business grow? If so, then you should consider Sage Intacct. It is the perfect solution for businesses of all sizes. What is Sage Intacct? The American Institute of Certified Public Accountants-approved cloud-based accounting software helps increase efficiency, manage IT costs, and collect valuable financial…
Read More
How to Read a Financial Statement
Running a business is challenging enough without the added pressure of being in the dark about your company’s financial status. Successfully operating and growing your business requires that you understand your company’s financial health. You can better avoid risks, identify, and seize growth opportunities for future success, and make strategic decisions that can lead to…
Read More
The Business Owner’s Guide To Bookkeeping Vs. Accounting
Businesses specialize in their area of expertise which often doesn’t include finance, and they are confused about the difference between bookkeeping and accounting. If this sounds like you, you’re not alone. And you’ve come to the right place. While both disciplines manage finances and help manage your bank statements and receipts, the two are not…
Read More
It’s all a balancing act
Being a business owner can often feel like you’re in a circus. Now, there aren’t clowns or elephants (or maybe there are…?), but between staffing, marketing, accounting, and the business itself, it can all be a balancing act. And often, it feels like you’re just spinning plates. We get it! But it doesn’t have to…
Read More
Analysis Matters!
Why Analysis Matters: The value of a human accountant The digital tools available to help run your business are limitless in this day and age. There are apps for everything! Accounting and bookkeeping included. Technology has come so far from the days of a punch calculator, paper ledgers, and hand-writing checks, but one thing has…
Read More
Extra Brain Power You Need to Succeed
“Business Owner” is a title you carry, but the truth is you likely carry several other titles – ones like an HR manager, Accountant, IT Specialist, and Marketer. Your mental load can be heavy. And you may feel like you need more hours in the day. But the truth is, you need your brain to…
Read More
You Don’t Have to Dread Tax Season
It’s tax season! This, for many business owners, means sifting through receipts, spreadsheets, and stacks of paper, trying to be sure you have everything you need to file your taxes. It means extra hours, frustration, and praying you don’t get audited. Every year that deadline comes around again, and you swear you will do things…
Read More