RedHammer Blog

When it comes to launching a construction project, detailed planning and organization is involved, especially when it comes to accounting. Accounting in construction projects is more complex compared to general accounting because of the distinct challenges posed by project-based work.

The construction industry faces economic challenges, including inflation, interest rates, and supply chain issues, requiring firms to adopt strategic financial planning. By managing cash flow, securing financing, and monitoring economic indicators, construction businesses can adapt to volatility and position for future growth.

A well-structured Chart of Accounts is critical for construction companies. This guide covers best practices, including categorization of costs, job costing integration, retainage, and WIP accounts. Streamline financial reporting, enhance project management, and maintain compliance with industry standards.

Avoid the 10 most common software implementation mistakes, from underestimating complexity to insufficient planning and poor change management. This guide provides practical solutions to ensure your project is completed on time, within budget, and fully utilized.

This is RedHammer's comprehensive guide to successful construction software implementation. It covers best practices, common pitfalls, and software recommendations tailored to companies of all sizes. With expert insights, this guide helps construction businesses optimize processes, ensure smooth transitions, and achieve long-term success.

Learn how to optimize your 1099 process in QuickBooks Online for construction companies. This article covers best practices in vendor setup, Chart of Accounts configuration, and leveraging the subcontractor feature, ensuring you remain compliant with IRS regulations while streamlining tax reporting processes.

Discover how to configure a construction chart of accounts in QuickBooks Online for accurate job costing, tracking retention, and managing WIP. This guide covers best practices, essential construction-specific accounts, and step-by-step instructions for setup. Simplify your construction accounting with expert tips.

Properly managing certificates of insurance is crucial for construction companies to reduce financial and legal risks. Learn how to handle general liability, auto liability, and workers' comp coverage, and keep your projects compliant and on track with these best practices.

The U.S. is seeing a sharp decline in accounting degrees, leading to a talent shortage in the profession. With fewer graduates and a growing demand for skilled accountants, outsourcing services like RedHammer offer businesses an efficient solution to maintain their financial health and operations.

Discover accounts receivable best practices for construction companies using QuickBooks Online. Implement progress invoicing, retention management, clear payment terms, multiple payment options, and automated reminders to ensure timely payments and maintain healthy cash flow.