Accounting
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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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 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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What is a Sage Intacct Accounting Partner?
We wanted to take a minute and go into a little more detail about being a Sage Intacct Accounting Partner (SIAP). We are proud to be a SIAP but know that many people may not understand what that means and how it can benefit our services. So, we thought we would break it down. Sage…
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Upgrade Your Accounting Processes
In January it is important to make sure you are ready to move full steam ahead into a new year. However, you can’t successfully tackle a new year if you don’t have the proper systems in place to help your business grow. If last year has taught us anything it is that you never know…
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What Is Liability
In today’s entry of the Devine Dictionary, we are going to discuss liability. What does a liability look like for your business? We will discuss what that means and what it looks like in the accounting world. A liability is a monetary amount that is owed by the company to another entity, company, or individual.…
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Time to Clean Up your Accounting Process
Spring is the season of freshening up, which can only mean one thing, spring cleaning. Spring cleaning involves a lot of different to-dos; organizing closets, purging the attic, and cleaning the walls and baseboards around your home. But have you ever thought of what needs cleaning up in your business? Maybe your accounting software or…
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Fall in Love with your Accounting Again
Every business owner knows the importance of good accounting in their business. However, it is easy not to love your accounting, accountant, or any other part of that side of the business. Do you ever feel that way? Confused and frustrated every time you have to deal with your business’s accounting. Here at Devine, we…
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Prepare Now for 1099s
Now is the time to get those W-9s together and prepare for 1099s. We know it may seem silly to start collecting this already but trust us, it will make your life so much easier if you just work ahead on this. The steps are simple and if you aren’t rushing to get this completed,…
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Avoid the Ghosts of Accounting Past
It’s October which means cooler weather, scary movies and Halloween is right around the corner. This is such a fun time of year and it can even get a little spooky! Between ghosts on TV and ghosts trick-or-treating, you can see ghosts everywhere this month. The one place you don’t want to see any spooky…
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