Bookkeeping

Overheads in construction are project-specific and can include costs like subcontractors and equipment. In the construction industry, overheads constitute necessary, ongoing expenses that keep projects running smoothly. Beyond subcontractors and equipment, these costs might include expenses for machinery, insurance, office staff, office supplies, and vehicles. Strategic Financial Reporting Even travelling just personnel and equipment to […]

However, you can take a “completed contract” approach as well, which involves calculating taxes owed on each contract. So they need to be able to track accurate costs, bid on jobs, manage prevailing wage requirements, and handle a slew of other accounting responsibilities. In this guide, we address some of those challenges and cover the

A key aspect of construction bookkeeping is ensuring timely billing for completed work through progress invoicing. By keeping track of project milestones and invoicing promptly, contractors can avoid cash flow disruptions. Consistent cash flow is vital to cover payroll, materials, and other ongoing expenses, enabling smooth operations and reducing the need for costly short-term financing.

Often, a unearned revenue company does this to meet listing requirements, which often require a minimum share price. The issuance of common stock cannot be more than the authorized number but can give less than the number of authorized shares. So, in this case, the number of shares issued is equal to the company’s outstanding shares.