As the approved method for recording financial transactions in construction, the double-entry method is typically used via software. Still, smaller construction companies can record their transactions in spreadsheets or another simple format. Unlike other reports on this list, contractors benefit from the job profitability report because it doesn’t have to be done in a set…

We help you interpret the results so you can make smart, data-driven decisions. GrowthForce combines the advanced QuickBooks accounting system design with a fractional share of a full-service accounting department, including professional, U.S.-based teams of bookkeepers, accountants and controllers. The GrowthForce Smart Back Office™ framework combines the latest technologies, dedicated teams and efficient processes to…

They should also use accounting software that can generate financial statements automatically. Construction bookkeepers provide project managers with detailed financial reports, such as profit and loss statements and cash flow forecasts, which inform strategic decisions. These insights enable project managers to adjust timelines, resources, or budgets, ensuring projects stay on track and within financial limits.…

Whether you decide to outsource your bookkeeping or keep it in-house, here’s my advice on how to keep accurate financial records and maintain healthy books. The thing is, whatever doesn’t hit your P&L (for example, the principal part of a loan payment), goes on your balance sheet. If you pay yourself through a draw instead…

As a result, companies outsourcing to India can benefit from cost-effective labor and reduce their operational costs. Moreover, most software and communication tools used in India have an English user interface, including popular cloud accounting software like Xero. For instance, Indian accountants stay up to date with the latest IRS (Internal Revenue Service), US GAAP…

When compounding of interest takes place, the effective annual rate becomes higher than the overall interest rate. Thus, the more times the interest is compounded within the year, the higher the effective annual rate will be. The amount will continue to increase each year after that, with interest being calculated on the principal amount plus…

We care about your cash flow, hence we don’t put any hidden fees that will surprise you. Both have different rates and services, so doing your research to find the right solution for your business is essential! Let’s jump into the differences between basic bookkeeping and full service bookkeeping— and how to choose the best…

The selection of vehicles Toyota has to offer is extensive, allowing each and every driver to find something that perfectly suits their needs and lifestyle. Sometimes, though, when so many options are available, it can be challenging to pick the right one. Exemption certificates of other states or countries are not valid to claim exemption…