Archives for January 2025

Creating a comprehensive construction estimate that includes materials, subcontractors, and labor is essential for effective project management. Utilizing Excel templates can streamline this process. Here are some free templates tailored for construction estimates: These templates are customizable to fit the specific needs of your project, ensuring that all aspects of the estimate are covered comprehensively. Create and Send Estimates in QuickBooks Online quickbooks.intuit.com Creating estimates in QuickBooks Online Advanced allows… Read More

Integrating QuickBooks Online with specialized applications can significantly enhance workflow efficiency for small contractors. Here’s a breakdown of key integrations to consider: 1. Project Management and Job Costing 2. Time Tracking 3. Estimating and Invoicing 4. Inventory and Material Management 5. Scheduling and Field Management 6. Customer Relationship Management (CRM) 7. Payment Processing By integrating these tools with QuickBooks Online, small contractors can create a cohesive system that manages projects,… Read More

Many contractors view accounting as a necessary evil that they would prefer to avoid at all costs. Having a well defined accounting process, back office system that can help get financials in a timely fashion which further helps in developing a construction company and strengthen the bond capacity.  Financial data is used by surety firms in a few key ways to assess a contractor’s bonding capacity. Assessing your ability to… Read More

Surety underwriters play a critical role in evaluating a company’s financial health and capacity to fulfill bonded obligations. They scrutinize several key performance indicators (KPIs) to assess the risk involved. Here are the five main KPIs that underwriters typically focus on: These KPIs provide surety underwriters with insights into a company’s financial stability, ability to manage projects profitably, and overall risk profile. Companies seeking bonding should maintain detailed and accurate… Read More

In the complex world of construction projects, managing finances efficiently is crucial for the success and timely completion of any endeavor. One significant aspect of financial management in construction is billing, and AIA Contract Documents has developed a standardized billing process known as AIA billing. This article delves into what AIA billing is, its key components, and why it’s essential for the construction industry. What is AIA Billing? AIA billing,… Read More

Construction businesses have lots of moving parts- creating bids, estimating, invoicing change orders, purchase orders, payroll, managing field work, managing employees, managing customers, back office, paperwork, insurance, bonding and the list is endless. But all being said finances and what you are left with in your bank account after taking so much risk and doing so much of hard-work matters the most. Construction businesses unlike other businesses do not have… Read More