When to Capitalize Costs vs. Expense on a Construction Project
Construction businesses don’t usually have a choice about paying costs, but contractors may have the choice whether to treat them as an expense on their financials. It’s called capitalization, and it’s not just for grammarians.
Five Facts on Davis-Bacon Wages Every Contractor Needs to Know
Diving into the facts about one of construction’s most debated sets of laws can help take the doubt out of "Davis" and bring home the bacon for your business.
The Contractors Guide to New Revenue Recognition
There’s a new revenue standard in town. Taking effect is Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, which introduces the new “five-step model.” See what that means for you.
Construction Accounting 101: A Basic Guide for Contractors
While construction accounting and bookkeeping draws on many basic accounting principles, it has several important and distinct features. Dive in with an overview of the fundamental differences and examples, along with bonus learning resources.
The Definitive Construction Accounting Glossary
In construction, we sometimes throw around a lot of words, acronyms and alphabet soup. Find out what we've been talking about the whole time as you jump around on our Definitive Construction Accounting Glossary, and zoom in on related articles to learn even more.
The Field Guide to Construction WIP Reports
You may have heard of work-in-progress reports or been asked to help provide information for them. So what's the big deal with WIP, and why does the field need to get involved?
Plus, see a sample WIP report!
3 Ways You Can Do Job Costing in QuickBooks Online
You’ll sometimes hear that QuickBooks can’t do job costing. And that’s not quite true. QuickBooks Online offers a few ways to pull project reporting that can be similar to a job costing system.
QuickBooks for Contractors: 5 Reasons Why (and When) We Recommend It
QuickBooks® is among the best accounting systems for smaller companies, and for contractors just starting out, it’s a great place to begin toward an organized accounting system. While it isn’t designed for construction, it’s made to work for a wide range of businesses.
What Are the Methods of Overhead Allocation?
How do you allocate construction overhead? There are numerous methods contractors can choose from. Learn about using the rate of direct job costs, weighted proportions and more in an easy, high-level overview.
How to Create an AIA Billing With FOUNDATION®
Learn how you can perform an AIA progress billing application, looking at an example with FOUNDATION construction accounting software.
