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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…

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Overcoming Construction Industry Inflation Challenges

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.…

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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…

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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…

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Devine Consulting Blog Featured Image 6 Signs It’s Time to Replace Your Accounting Firm

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. …

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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…

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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…

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why sage intacct best for companies

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…

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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…

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The Business Owner's Guide to Bookkeeping vs. Accounting

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…

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Feel like you're spinning plates? Devine can help with your accounting

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…

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No technology can replace the value of a personal touch

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…

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The numbers don't belong in your brain

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…

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Tax Day reminder

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…

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