Construction Blog
Ever been stuck waiting on a payment because something got “lost in the paperwork”? Or had a client question a line item on your invoice months into the job? Those are exactly the problems the schedule of values (SOV) solves. For most builders working on larger or bank-financed projects, the SOV acts as a must-have […]
Construction Accounting
If you’ve been in construction long enough, chances are you’ve already dealt with construction draws, even if you don’t call them that. It’s one of those terms that pops up around contracts, payments, and bank-financed projects, usually when you’re knee-deep in paperwork or waiting on a bill. Construction draws are a central part of the […]
Construction Accounting
What’s the point of doing the work if you don’t know whether it’s actually paying off? This may sound harsh, but as many contractors struggle with performance reviews, it is more than just a rhetorical question. Whether you’re managing one or ten projects, tracking key construction KPIs is what separates profitable businesses from those just […]
Construction Accounting
Construction accounting is a unique branch of accounting that reflects the specific financial needs of contractors and construction companies. It’s not a parallel universe, but it’s worth knowing some important differences between construction-specific accounting and other types of business accounting. The projects are usually larger and more complex than other business ventures. So, the impact […]
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Construction Blog
What’s costing you more: your materials or the hours lost to messy project management? Small construction business owners already know how quickly things can spiral out of control. Between scattered spreadsheets and never-ending job site delays, it’s not just your timeline that suffers, but the whole project’s success. Construction management software for small businesses can […]
Construction Accounting
Keeping construction on track isn’t easy. Between construction project management, budgeting, and scheduling, there’s a lot to manage and without clear systems in place, things can quickly fall through the cracks. It can all become even worse when miscommunication and unexpected costs start creeping in. Construction job management software helps builders take everything under control […]
Construction Blog
Have you ever wondered how much time, money, and stress could be saved if you had a proper system to organize and manage your projects from start to finish? Digitization has been around for a long time, and its influence is inevitable across every industry, including construction. From digital takeoffs to CRM and financial management, […]
Construction Blog
With so many moving parts and multiple stakeholders involved in the construction projects, how does everything stay on track and within budget? The answer lies in professionally implemented construction project management strategies that bring clarity to all activities, such as estimating, planning, collaborating, and managing resources. Without a smooth and well-organized workflow, even the most […]
Construction Blog
How often do you find yourself in need of skilled workers for your construction projects? Do you struggle to find reliable and qualified candidates? With labor shortages and high competition for top talent, construction recruitment may become a challenge even for the most resourceful builders. Knowing how to effectively recruit and retain skilled workers is […]
Construction Blog
Construction cost tracking can feel like a never-ending headache. Missed receipts, unexpected costs, and lack of visibility lead to construction budget overruns. This is a typical scenario for builders who lack strategic tracking practices in their construction projects. However, with the right approach and tools, you can keep your work on budget and stress-free. Table […]
Construction Blog
While planning to build a dream from scratch or just remodel the kitchen, financial uncertainty can be a barrier. FHA construction loans might be the solution you’re looking for – but are they the best fit for your construction budget planning? Understanding all the details before signing up for a 30-plus-year mortgage is crucial for […]
Construction Blog
Have you ever found yourself juggling with stacks of paper plans on the construction site, only to discover an error or last-minute change that sends you back to the office for yet another printout? If this sounds familiar, you’re not alone. Builders everywhere face the ongoing challenge of managing hard copies on the jobsite, which […]
News
Accurate financial reporting shouldn’t be a barrier for growing construction firms to thrive. Construction financial specialists always state that understanding and accurately applying the Work in Progress Accounting Adjustment (WIPAA) is crucial for construction companies aiming to maintain a clear and precise picture of their financial health. Neglecting these metrics, home builders operate under false […]
Construction Blog
When planning to build a dream home, understanding the work process with home construction loans is equally crucial for homeowners and builders. Designing and building a house from scratch seems exciting and straightforward on paper – choosing custom finishes, new furniture, and watching your vision take shape. But as soon as the construction begins, the […]
Construction Blog
Struggling to make sense of wildly different bids from sub/vendors? Sending out bid requests and waiting for responses to review is only half the job. No two sub/vendors bid the same project the same way, making it challenging for builders to carefully assess each bid and select the one that best suits both their own […]
Construction Blog
The proposal is your first impression. It’s your handshake, your business card, and your sales pitch all rolled into a single document. Yet, there is no one-size-fits-all template for winning a proposal for a construction project. So, how do you ensure your proposal stands out and wins you the project? The answer lies in creativity, […]
Construction Blog
Have you ever found yourself knee-deep in a construction project, feeling like you’re juggling a dozen tasks at once? You’ve got teams of workers, materials arriving, and clients eagerly awaiting progress updates. This will be your nightmare without a proper construction schedule! Project planning isn’t just about crossing dates on a calendar and hoping for […]
Construction Accounting
Have you ever considered how the construction billing methods you choose impact the success of your project? Selecting the appropriate billing method is not a decision to be taken lightly. It goes beyond mere preference; it’s about understanding the balance between ensuring timely payments and maintaining the financial health of the project. With this in […]
Construction Blog
Are you looking for a Buildertrend alternative to explore the new depths of construction project management? While it is a popular software in the industry, it may not be the perfect fit for everyone. As the construction market grows alarmingly, the demand for improved technology also rises. That’s why we have compiled a list of […]
Construction Blog
Setting up your construction business requires the right foundation. From coordinating timelines to managing budgets, every project manager knows the importance of having efficient tools at their disposal. Regardless of the sphere, the right construction project management software has become one of today’s construction industry’s most critical and non-negotiable assets. It’s not about keeping track […]
Construction Blog
Are you still struggling to navigate the complex web of construction taxes, uncertain about deductions, credits, and compliance requirements that could impact your bottom line? Lucky for you, we are calling all the builders in the USA, Australia, New Zealand, and Canada as we have gathered all the essential information about construction taxes. Save our […]
Construction Blog
Last update February 2024 86% of construction professionals experience stress from slow payments and cash flow problems. This creates a chain reaction of financial hardship for the construction companies, resulting in reduced profits, project delays, etc. But hold on; why should this be the case? Getting your construction invoicing payments on time can be a […]
Construction Accounting
Did you know that the average general contractor markup on labour is 25% and higher, and on materials, it can be as high as 50%? What does this imply for your business as a builder? Considering these average markup percentages, it’s essential to ask yourself: Are you charging enough to impact your profitability positively, or […]
Construction Blog
Strap on your hard hat and get ready to unleash a whirlwind of productivity. Those looking to upscale and explore new construction project management alternatives to Procore have finally found a treasure trove of possibilities. The construction industry is evolving, and so should your tools. It’s time to step into the future, where innovation and […]
Construction Blog
Ever found yourself scratching your head at the end of the week, wondering where all the time went on your construction project? Construction sites bustle with an array of subcontractors and various crews, each focused on their tasks, ranging from laying foundations to installing electrical systems, all converging to complete the final build. The builder […]
Construction Blog
Hey there, current, yet current, or already a former Houzz Pro user! If you’re looking for Houzz Pro alternatives, that’s probably because you’ve realized that even though it is a great tool for home design and remodeling professionals, it may not cover all of your specific needs. Maybe you’re looking for more advanced features or […]
Construction Blog
The construction industry is a risk-intensive business, where owners have to make sure that their investment is secure while contractors are trying to maximize their profit margins. Considering the sensitive nature of construction projects, where each party has its own vested interests, each of them also tries to add more layers of security for their […]
Construction Blog
The Australian construction industry is a vital contributor to the country’s economy, generating billions of dollars in revenue and employing hundreds of thousands of workers. However, the industry also faces its unique challenges and peculiarities that require careful consideration for businesses and individuals operating within it. In this extensive guide to the Australian construction industry, […]
Construction Blog
If you’re navigating the choppy waters of construction project management with BuildBook and finding it falling short, we have a solution for you! Among multiple project management tools, several robust BuildBook alternatives can bring a breeze of simplicity, efficiency, and excellence to your projects. As a relatively simple software solution, BuildBook offers a platform for […]
Construction Blog
Tired of poorly managed construction selections? Struggling with endless back-and-forth communication with clients to finalize choices for multiple places? It’s time to bid farewell to these common construction project management woes! Buildern, a leading-edge construction project management software, is here to revolutionize how you handle your projects. Designed with builders in mind, Buildern streamlines all […]