Legendary NFL head coach Bill Parcells famously said, “you are what your record says you are.” Numbers don’t lie, and results often speak for themselves. As a construction contractor, you should know what your record… Read More »Construction financials 101: Understanding financial statements
Construction document management is a process for organizing, storing, and facilitating all relevant documents used throughout construction projects. This includes contracts, blueprints, permits, payment applications, change orders, RFI’s, and more. At least ten core document… Read More »Construction document management: How to streamline your projects
Purchase orders and invoices are two critical documents used in the construction industry. Both the purchase order and the invoice play an essential role in the procurement process, yet they are often confused and misunderstood.… Read More »Purchase order vs. Invoice: Everything you need to know
Despite the precariousness of the past five years or so, the construction industry has proven, as it often does, to be quite resilient. Not only has it weathered the storm of COVID-19, it found a… Read More »Unlock faster payments: A guide to construction invoicing
Across the board, construction and contracting businesses are feeling the impacts of global supply chain disruptions and labor shortages firsthand. According to an early 2022 news release published by Associated Builders and Contractors, “overall construction input… Read More »Building a construction budget – Improve cost control in your construction projects
A construction submittal is a formal request for approval of specific materials, equipment, drawings, or data from the general contractor or project owner. It sets expectations and aids in keeping projects on schedule and within… Read More »What is a construction submittal: how to utilize them for project success
A chart of accounts is a window into your business’s financial standing. It’s a comprehensive list of all account numbers and names relevant to your operation. From this list (or chart) of accounts, you can… Read More »Understanding a chart of accounts in construction
Accounting is said to be the language of business, as it tells the story of how well your business is doing financially. For this reason, understanding the financial nuances of your construction projects is vital… Read More »Accounting for construction: 5 tips & best practices
AIA billing has remained a construction industry standard for over a century. They bring a reliable, organized, and standardized system, providing clear directions for contractors. However, as any contractor using this method knows, it requires… Read More »How to add sales tax to AIA billing
Continuation sheets, such as the AIA G703 form, provide key pieces of information on each item of work that general contractors and project owners use to monitor the progress of that job. At a glance,… Read More »How to fill out an AIA G703 continuation sheet