Benefits of Using a WIP Schedule with Sage 300 Construction
What are the benefits of using a WIP Schedule with Sage 300 Construction? For many businesses, making a transaction is as simple as offering a single good or service in exchange for a fixed price. However, construction companies are a bit more complex. Since the construction industry deals with projects rather than single products, knowing…
Two Methods for Recognizing Revenue in Construction
Revenue Recognition, ASC 606, and Cabbage for Sage 300 Construction . The construction industry is a diverse one, relying on a variety of machines and many types of laborers to complete projects on time. However, the accounting practices a company uses are just as important. For businesses in the construction industry, there are two approaches…
Work-in-Progress Schedule – A Must Have for a Construction Company
Work-in-Progress Schedules are a must-have for any Construction Company. In today’s surety environment, bonding companies want to make sure that every aspect of their clients’ finances are in robust condition. Often, these companies rely on construction companies’ work-in-progress schedule to determine the project-by-project profitability of the company’s activities. Why Can’t Underwriters Simply Rate Completed Contracts?…
Why Construction Companies Should Use a WIP Schedule, ASC 606 & more
Why Construction Companies Should Use a WIP Schedule, ASC 606 & more Being in the construction industry means working with many different individuals and organizations. With ASC 606 revenue recognition being the new standard, Cabbage can help your company better prepare with accurate work in progress & contracts in progress data, In addition to clients…