Category: Bookkeeping

It’s the backbone of successful construction project management, providing the framework necessary to track, evaluate, and control costs throughout the lifecycle of a project. In summary, financial reporting and analysis are critical for construction companies to understand their financial position and make informed decisions. By creating accurate financial statements, managing cash flow effectively, and budgeting…

Outbooks is a leading provider of Virtual Bookkeeping & Accounting Services across the USA. Procore will conduct an interview to understand your business before quoting a price. Features, such as timecards, can be synced automatically while working remotely so that nothing slips through the cracks. If you want to unlock advanced estimating and bill management,…

Growth over time results in a change of the dimensions of the human body. Thus, standardized measurements and their comparison to normal standards provide useful objective data. The physical measure method is a technique used for allocating joint costs to multiple products based on their physical output or production units. This approach is often used…

Measurement is always measurement of a property and never measurement of a[n object]. For example, both rods and human beings are, in this sense, objects, and both have a temperature and a length (in the case of human beings, their height) among their properties; on the other hand, human beings, but not rods, have reading…

Unfortunately, we found that most Allstate customer service scores are average or below. Power’s 2018 US Auto Claims Satisfaction Study, scoring three out of five stars. Power’s similar research on shopping satisfaction, Allstate is the second from the bottom, scoring a poor two out of five stars. This is an excellent choice for those working…

Finally, the third is to attend a school that’s at least 100 miles from the place where the vehicle is garaged. If you decide to handle all your insurance documents online by signing up for ePolicy, you Bookstime can save up to 10%. This isn’t just a convenient way to lower your premium but also…

Buying items such as machinery is a typical example of a fixed cost, specifically a one-time fixed cost. Regardless of how much it is used and how many units are sold, its cost remains the same. However, these fixed costs become a smaller percentage of each unit’s cost as the number of units sold increases. The Contribution Margin is the…

Contribution margin income statement, the output of the variable costing is useful in making cost-volume-profit decisions. It is an important input in calculation of breakeven point, i.e. the sales level (in units and/or dollars) at which a company makes zero profit. Breakeven point (in units) equals total fixed costs divided by contribution margin per unit…

These bookkeeping services ensure compliance with regulations, manage deductions, and reduce the risk of audits or penalties. For contractors managing several projects simultaneously, tracking costs and ensuring profitability for each one can be overwhelming. Use a journal, spreadsheets, or construction accounting software to record day-to-day transactions like accounts payable, accounts receivable, labor costs, and material…

This includes adhering to wage and hour laws, tax obligations, and reporting requirements. A robust payroll management system helps construction firms navigate these complexities, reducing the risk of costly penalties and legal issues. Additionally, it facilitates the accurate tracking of labor hours and project costs, providing valuable data for financial analysis and forecasting. Payroll management…