Virtual project accountants offer flexibility, cost savings, access to expertise, and advanced technology, providing a compelling alternative to traditional in-house project accountants for improved financial management in the construction industry.

As construction projects grow in size and complexity, hiring a project accountant can streamline financial processes, improve decision-making, and boost profitability, leading to more successful outcomes and a stronger business.

As construction projects grow in size and complexity, hiring a project accountant can streamline financial processes, improve decision-making, and boost profitability, leading to more successful outcomes and a stronger business.

Some projects present more challenges or financial risks than others. In light of this, it's essential to understand what unconditional lien waivers are and how to use them.

Project management is a multi-layered, complicated process in the construction industry. Wasting time resolving communication issues and math errors can cause a delay in the whole project. Learn more about the basics of project management, and why it matters so much to companies of any size.

Keeping up with constant changes in construction law can take its toll. When your paperwork is already disorganized or hard to find, it’s easy to make mistakes that could cost you in court. Flashtract makes organizing construction billing documents easy and fast.

Want to see what our favorite project management tools were in 2022? Curious how you can streamline your project organization? This list is just for you!

When a contractor bids on and wins a construction project, there is usually a lot more going on than meets the eye. Learn more about sub tier contractors and how they impact your construction projects.

Starting Jan 1, 2022, Texas has a number of changes coming to construction law. From changes in lien waiver notarization to updated terminology, learn how these changes impact your business.

Learn about the ways PPP loans can be used to assist company growth and still be applicable for loan forgiveness.

In most industries, receipts and payments are exchanged at the same time. Unfortunately, lien waivers for a construction project aren't quite that simple. A lien waiver is one of many documents provided with a paid app. This means contractors, subs, and suppliers are often required to sign lien waivers before they get paid. Additionally, a lien waiver usually includes more information than services rendered and the amount paid. For these reasons, construction workers need to understand exactly what is disclosed in a lien waiver before signing it.

While different contractors may use various methods to track and improve productivity, these three financial statements are reports that improve construction productivity.

For most working taxpayers, accounting for income is as simple as keeping a record of W2 documents they receive from their employer. If you run your own business, you must keep up with costs and received income for sales of products or services. A service provider records income as soon as a sale is complete. However, in the construction industry, this isn't always possible. That’s where the percentage of completion for contractors comes in.

When you're preparing to introduce a new system to an entire company, you should expect some growing pains and difficulty adapting. It's true that ERP software should make cumbersome processes easier, but learning new procedures can be difficult. Understanding common challenges can help you prepare for difficulties during implementation and keep them from derailing you. These are the most common challenges that construction companies face when installing a new ERP system.

Here is a simple list of best practices that are helping construction companies across the country keep productivity up and improve efficiency.

For many construction companies, remote work seemed like an impossibility as recently as a year ago. While technology like 3D mapping software and drones have provided useful advances, most work was still accomplished in the field. As the effects of COVID-19 spread across the world, the industry is quickly adapting, and you need to have a plan ready to move your construction company’s back office to remote work.

Going into the pandemic recession and major slow in the market we need to have a mindset change. This is an opportunity, not a death sentence.