Cash vs. Accrual Accounting and What Contractors Need to Know If you’re a contractor looking at your Profit & Loss statement and wondering, “Are we actually making money?”, the answer can depend on whether you’re looking at your books on a cash or accrual basis. Understanding the difference is especially important for contractors because construction […]
Category Archives: Bookkeeping
If you run a construction business, you’ve probably heard the term COGS—short for Cost of Goods Sold—and wondered whether it applies to you. After all, you’re not selling retail products or manufacturing items on an assembly line. You’re building projects, managing crews, and coordinating subcontractors. So, do construction companies have COGS? The short answer is […]