Why Do Construction Materials Costs Keep Going Up?
It seems like materials costs are going up every single day. Across Europe, materials costs have reached a 40-year high – with many contractors not able to purchase some materials at all. During Covid, many supply companies didn’t just slow down – they went bust, and new ones that are planned to open will only […]
Inflation – What Does That Mean To A General Building Contractor?
When you ask a Building contractor what is keeping them awake at night, the reason they will give you is almost always the rise in Inflation for Construction Costs and when it will end. They have good reason to feel anxious. The Construction Leadership Council’s Product Availability Statement in May reported that “price inflation remains […]
Accounts Payable Doesn’t Belong On Spreadsheets
Accounts payable in construction refers to the money due to suppliers and subcontractors. It includes all types of costs, such as overhead, direct and indirect. The accounts payable function is processing, verifying, reconciling and paying invoices in an appropriate amount if time. In construction the role can be extended to matching invoices to Purchase Orders […]
Spreadsheets Can Hurt Your Profit And Ability To Track Costs
Manual reporting isn’t just data entry, it’s collecting information, transitioning it into new formats such as graphs, Powerpoint and a PDF. It’s having to create formulas and templates. All of this wastes time. Construction cost management is hugely important and it should be done right. Spreadsheets are slowing you down Spreadsheets allow human errors Spreadsheets […]
Managing Supplier Statements – 3 Easy Tips
A construction company will receive both invoices and a statement at the end of each month from their supplier. Let’s have a look at the differences between the two and some tips on how to manage supplier statements and make sure that they are correct. An invoice is issued from a supplier to a buyer […]
What Are The Benefits Of Using Purchase Orders On Construction Projects?
A purchase order is a must for business management. It is a document that confirms an order for construction materials, sent from a buyer to a material supplier, equipment renter or subcontractor. When a purchase order is accepted, it sets basic terms between the parties such as what is being ordered and an agreed price […]
5 Simple Steps to Generate Work for Your Construction Company Through LinkedIn
LinkedIn is a business-oriented social network with more than 550 million members. It doesn’t only provide a place to find jobs. You can also use this free service to generate leads, enhance your reputation and establish connections with potential customers. Let’s look at how this works for your construction company. LinkedIn is a very […]
3 Basic Tax Saving Tips To Benefit Your Construction Business
Deductions from your paycheque require serious consideration, and you deserve to know why they occur. At Irish Tax Rebates’ Tax Tips, they help you understand tax laws and how they affect your income for your construction business. With more than 20 years of professional experience in tax-related matters, their team offers the most reliable information […]
5 Simple Tips for Winning Your Next Construction Project
Bidding/tendering for projects can be an exhausting task, but is necessary in every contracting business to keep the doors open. We believe all processes can be improved, so here are a few tips that may help improve your success rate. Lets take a further look at how you can win your next construction project […]