How Do Builders Calculate Work-in-Progress?
Calculating work-in-progress for builders with Cabbage and Sage 300 CRE Building companies have to calculate many different numbers to monitor their business effectively. Work-in-Progress is one of the most beneficial figures any organization can have. But for building companies, it is common to struggle with getting an accurate picture including this data. Even the accountants…
Cabbage Makes ASC 606 Revenue Recognition Easy
Cabbage & Sage 300 Construction Make ASC 606 Revenue Recognition Easy The new ASC 606 revenue recognition guidance brings monumental change to how many middle-market companies account for revenue and disclose revenue related information. While both the timing and amount of revenue recognized could significantly change, the nature and extent of revenue related disclosures will…
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…