Construction bookkeeping is important since projects in this industry tend to be complex. Calculating revenue can be difficult without the right information, especially when your firm works on multiple projects. All costs must be tied together in bookkeeping, including expenses from labor, equipment, materials, transportation, and insurance. Tip 4: Account for contract retainage These statements […]
Category Archives: Bookkeeping
Or, if they decide to apply for financing, that positive working capital can make it easier for them to qualify for a small business loan or other form of credit with attractive rates and terms. Until the payment is fulfilled, the cash remains in the possession of the company, hence the increase in liquidity. But […]