Now that another year has come to a close and we’re officially in 2020, we’ve had some time to settle in and look back at everything we accomplished in 2019. We purchased (and moved into) a new building in Strongsville, Ohio, welcomed a new member to the Ode Family, and started to set the stage for another company milestone — our 35-year anniversary.
However, before we get ahead of ourselves with the party planning, we wanted to make sure we stopped to appreciate some of our other work from 2019. So, in following our 2018 version, we compiled a list of our top industry articles from 2019.
If you’ve ever worked on a government construction project, you’ve probably heard the name “Davis-Bacon.” Or else, those two words might be why you’ve never bid on a publicly funded job.
While construction accounting draws on all the same basic principles of general accounting, it also has several important and distinct features that set it apart. Get a high-level overview and drill down to learn about the most important concepts in construction bookkeeping.
You’ve probably heard it said before that QuickBooks® can’t do job costing, but that may not be quite true. Here are some of the key ways you can pull project reporting together in ways that are similar to a true job costing system.
Work-in-progress reports are critical in helping contractors stay on top of the health of a project. And in the end, they can mean the difference in who’s actually funding a project — the customer or the contractor. Learn what makes them work and how project managers and accounting can work together.
Dive into everything you’ve always wanted to know about AIA billing, from exactly what it is and how it works to how you can create an AIA billing with FOUNDATION®.
When you visit your favorite online retailer, the cost is right beside the picture. On a car lot, there’s a sticker price you can haggle from. Why can’t someone just tell you the cost to buy construction accounting software without having to talk to a sales rep?
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.
Once upon a time, contractors essentially chose between a contract-complete method or a percentage-of-completion method for recording revenue. More recently, the new ASC 606 revenue recognition standards have ushered many changes and raised as many questions.
Catch up on all the other articles you may have missed this year in our article archive! Or follow us on social media and always keep up-to-date!