Generally Accepted Accounting Principles or GAAP is the set of standards and procedures that accountants use to record transactions, prepare financial statements, and report on a company's finances. Comprising authoritative standards set by policy boards along with commonly accepted practices, GAAP has become the most widely used system of accounting in the United States.
IES Winter 2026 delivers construction beta with project phases, cost groups, AIA invoicing, and negative change orders, plus parallel approvals, AI agents, BI tools, and MAC migration support. RedHammer breaks down every feature with honest takes on what still needs work.
Read MoreIntuit launches its first industry-specific ERP for construction. The IES Construction Edition covers the full project lifecycle—from proposals to AIA invoicing—with AI-powered tools and multi-entity support, putting traditional construction platforms on notice.
Read MoreRedHammer and Hammr partner to connect construction payroll, time tracking, and compliance to clean job costing, WIP, and reporting. Contractors capture labor correctly in the field and map it into accounting for faster close, clearer margins, and earlier project visibility.
Read MoreQuickBooks Classes give you one tracking dimension. IES Dimensions provide up to 20, with hierarchies, multi-tag reporting, better job costing, and multi-entity consolidation, offering contractors deeper insight and cleaner, more flexible financial reporting.
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