WIP Schedule 101

WIP Schedule 101

All businesses need accurate financial data to help understand how it is performing and, more importantly, to assist in planning for the future. The construction industry is no different, and one of the most important inputs to financial…

Construction Month-End Close Checklist

Construction Month-End Close Checklist

Many say humans are “creatures of habit” and prefer routines, especially accountants. Those habits and routines may exist in our personal lives, professional lives, or both. As a business owner, establishing sound habits and routines…

Direct vs. Indirect Costs in the Construction Industry

Direct vs. Indirect Costs in the Construction Industry

A new project manager at your construction company is consistently seeing margins deteriorate at the end of their construction projects.  The key question when confronting this situation is to determine if project…

Paving the Way to Surety Bonds for Construction Projects

Paving the Way to Surety Bonds for Construction Projects

Surety bonds are commonly needed by construction companies. Often confused with insurance, these bonds work more like a form a credit—a guarantee that the construction company will carry out a contract within all applicable laws…

Strengthening the Contractor-Surety Relationship

Strengthening the Contractor-Surety Relationship

If you are a contractor seeking a long-lasting relationship with a surety, it helps to first understand how that surety views certain factors related to you and your ability to perform and complete jobs…

What Are Surety Bonds, and When Might You Need One

What Are Surety Bonds, and When Might You Need One

Surety bonds are used in the real estate and construction industries to ensure the completion of a contract in the event of a contractor default. If you as a contractor are bidding on work, there is a possibility that contract requires a surety bond…

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