Maintaining Your WIP to Prevent Profit Fade

Maintaining Your WIP to Prevent Profit Fade

“Profit Fade” occurs when jobs close with lower gross profits than was originally estimated. This often occurs when companies do not maintain Work in Progress Reports (W.I.P.s).  The W.I.P. is a tool that shows estimated gross profits for each project,...
Do you Need Better Sub-Coverage?

Do you Need Better Sub-Coverage?

Last week we hosted a private meet and greet for The Bluebook at Construction Connection’s Coaching Center, the SHED, which stands for Sharing Education. The out of town contractor was Life Time Construction, the Construction Management division of Life Time Clubs....
Cost Accumulation and Management

Cost Accumulation and Management

by Christopher T. Marrie, HBK CPAs & Consultants Cost accumulation and management is critical to a strong financial reporting system in any industry. For construction contractors of any size it is one of the most essential functions of the business. Proper job...
What is PTO in Construction?

What is PTO in Construction?

Traditionally in construction, employers offer separate paid time off benefits to employees which including paid vacation, sick leave and personal days. However, in the past decade, many employers in our industry have moved to a Paid Time Off or “PTO” benefit that...
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