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Whatever industry you are in, your business is required to choose an accounting method to report income and expenses . In construction,...

Construction accounting is considered a special combination of bookkeeping and financial management. Construction accounting is designed...

Simply put, cash flow is a reflection of how money moves into and out of your business. For small businesses, in particular, cash flow is...

As a small business owner, you should regularly look at your income statements to determine whether your company is making a healthy...

While a fixed price or point-of-sale billing structure is used mostly across diversified industries, this contract method fails to serve...

Underbilling is the opposite of overbilling and occurs when a contractor does not invoice their customer for completed work. Not complete pr

Administrative tasks like law firm billing and invoicing can be tedious and time-consuming and you may be stuck if you don’t implement...

Incorrect overhead rates create problems because they do not accurately describe the current overhead of a business

Along with direct materials and direct labor, overheads are also a very important cost element to determine directly to your business’s...

When a small construction company does not get its payables, it is more vulnerable to damage than a large company with large cash reserves.

The current ratio is one of the important indicators when it comes to determining a company’s solvency - the ability to pay its...

Variable costs and fixed costs comprise the total cost of your business activity. While these costs seem complicated at the first plan,...