How to Budget for Your Business
A solid plan is one of the most important tools for making sound financial decisions. And as your business grows in size, creating your budget to handle increased income and expenses may seem overwhelming. Learn if your current year budget plan is up-to-par and get a step-by-step approach for tackling your business budget. The Importance…
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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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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…
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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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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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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
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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Meet the Leader of our Flock – Jennifer Devine
Meet the Leader of our Flock – Jennifer Devine When you invite someone else to help you with your business finances, it feels a little personal, so today we’re giving you the chance to learn a bit more about the person leading the charge! Our founder and CEO, Jennifer Devine, is sharing a little about…
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We’ve got your back!
If you own or manage a business, it can be unnerving to let your finances out of your grip. For many, managing the books, the accounts, and the projections gives a sense of security in where the money is going and whether things are staying up to date. But it comes at a cost your…
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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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