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In this article, we’ll learn about inventory and the best practices for proper inventory management. Let’s dive in. What is Inventory?...

Accounting is divided into several sections, but for small business owners, there are three types that are necessary to generate financial i

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.