Construction Industry Insights
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Let’s Get Surety: Episode #103 – Accounting Needs for Small Contractors
NLA Founder and CEO Jessica Krause sat down with NASBP’s Let’s Get Surety podcast to discuss the crossover between construction accounting and surety. Construction is a dynamic field with unique requirements for job costing, budgeting, cash management, and more. If you’re a construction professional, this episode will help you understand the importance of working with…
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6 Bookkeeping Tips for Construction Companies
Proper construction bookkeeping lets you better understand and control your financial position and cash flow. In this post, we’re explaining the importance of construction bookkeeping. Plus, we’re sharing some pro tips for you to use in your business.
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Be Your Own CFO – Your Frequently Asked Questions (Answered).
From how the courses are structured to your investment and potential time commitment, this post answers your most common questions about our Be Your Own CFO course offerings. Let’s dive in! Who are the Be Your Own CFO courses made for? Our three Be Your Own CFO course offerings were made with ambitious contractors in…
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How to Manage Construction Project Delays
Data compiled from over 500,000 construction schedules (provided by contractors and clients) showed that 85.5% of the projects were completed late. And of those projects, 59.4% were late by more than two months. It goes without saying – construction delays are almost impossible to avoid. Delays in construction projects can be caused by many factors,…
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7 Construction Industry Trends to Continue Watching in 2023 (and Beyond)
The past few years have been nothing short of interesting for the construction industry. Supply chain shortages and other issues are just a few of the challenges faced since the beginning of the pandemic. And as we approach the halfway point of 2023, several construction industry trends continue to emerge. Anticipate and adapt to these…
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9 Reasons Why Your Construction Company Should Outsource Accounting
Whether you’re a startup or an established enterprise, you may find it challenging to manage your finances and keep up with your accounting. And having a full-time, in-house accountant means there’s one more person to manage and one more person taken away from other projects. Accounting may not be the most enjoyable part of your…
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10 Construction Site Safety Tips: Keeping Your Workers Safe and Happy!
Construction sites can be hazardous places to work. When employers and their workers aren’t aware of the many risks present, it can result in serious accidents. Construction workers are at risk of serious injury and even death when it comes to ineffective safety guidelines. There are also financial implications associated with deaths and injuries like…
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10 Common Construction Accounting Mistakes
The construction industry is hectic and complex. No two jobs are the same, and few projects progress according to plan. These volatile conditions make it easy to miss something on the financial side of your business. Accounting errors can range from minor missteps to oversights so severe that they become legal issues down the road.…
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8 Challenges Facing the Construction Industry in 2023
The construction industry is one of the U.S. economy’s largest sectors. It employs roughly seven million workers and is responsible for more than $1.8 trillion in spending each year. As 2023 approaches, many construction industry professionals will be wondering what challenges and issues they will be facing over the coming year.