Understanding a chart of accounts in construction
It uses a cash basis accounting and construction contractors should consult with a tax advisor to get the best tax strategy for their business. When choosing a construction accounting software…
Activity Based Costing: Key to Increasing Efficiency and Improving Profit Margins
The Direct Costing System, or variable costing, focuses on expenses directly attributable to production, such as raw materials and direct labor, excluding fixed overhead. This system provides a clear view…
Debt write-off checklist: 8 things to try before writing off bad debts
Bad debt is a contingency that must be accounted for by all businesses that extend credit to customers, as there is always a risk that payment won’t be collected. These…
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