Here are some things to keep in mind when bookkeeping for construction firms. For one, payroll for construction is more complex, and involves much more than agreeing on a flat rate for every project. Projects like government-funded projects require you to pay…
Read moreAccording to the Construction Financial Management Association, pre-tax net profits average between just 1.4% and 3.5% for contractors and subcontractors. Project costs vary according to the weather and season in which work is due to take place, as do the cost…
Read moreThus, the term credit memorandum indicates that the seller has decreased the customer’s account and does not expect payment. But if you don’t know how to account for a return with a purchase returns and allowances journal entry, your books will be inaccurate….
Read moreAlthough nearly all churches are tax-exempt organizations, that doesn’t mean your church can write off tax season! Unlike other nonprofits, most churches don’t have to file an annual tax return via IRS Form 990. However, there are exceptions to this rule,…
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