What is the Construction-in-Progress Balance?
Construction-in-Progress with Cabbage and Sage Companies need to keep track of their long-term liabilities, and this includes real-estate. Property is usually recorded as an in-process cost on a balance sheet. Construction companies log ongoing projects as construction-in-progress. This helps them track the costs incurred up until that point, and makes it easier to see if…
The Difference Between ‘Estimate at Completion’ and ‘Estimate to Complete’
‘Estimate at Completion’ and ‘Estimate to Complete’ in financial forecasting Construction projects don’t always run on time, so construction and real estate companies must adjust their estimates as project variables change. When that happens, you need to know the difference between ‘estimate at completion’ and ‘estimate to complete.’ WHAT IS ESTIMATE AT COMPLETION? An estimate…
When to Invest in Construction Software
Accounting is a complex science where small mistakes can lead to big headaches. Once a company has a functional accounting software in place, it can be easy to put off upgrading – even if the current solution is lacking in certain areas. Growth is rewarding for any business, but it also presents new responsibilities. As…
Why Verifying Project Profitability is Important
Verifying Profitability in Sage 300 CRE (and beyond) is important When taking on a new project or analyzing an existing one, you should complete a project profitability verification. Confirm Accuracy Before starting a new project, or when assessing an existing one, you need to verify the project profitability to confirm the accuracy. The financial success…