Coast’s Post

Some sobering stats on expense reports, according to the survey linked below: 🕓 20 minutes: Average time to complete an expense report ❌ 19%: Percentage of expense reports with errors 📝 18 minutes: Average time to correct an expense report https://lnkd.in/eUtsMHSB We surveyed 200 construction companies on their field spending and expense management processes, and found that many are dealing with non-compliant spend, despite ongoing efforts to communicate spending policies. And not to say that this happens at *your* company...but did you know that 85% of employees have admitted to lying on expense reports? According to this survey from PYMNTS: https://lnkd.in/ewB9UwAR We'll just leave the full survey results here: https://lnkd.in/gHZ6ryx5

Hey Construction Pros! 👷♂️👷♀️ Ever wondered if you're really accounting for all your labor costs accurately? Our newest blog post, "Decoding True Labor Costs in Construction," is a must-read for you! Join us in unraveling the complexities of labor costing through the insightful story of Mike, a construction business owner who found significant gaps in his cost calculations. Check out the blog and our step-by-step video tutorial to refine your financial approach. Plus, download our FREE Labor Cost Calculator to start optimizing your bids today! 👉 https://lnkd.in/ghpVcxbh #ConstructionCommunity #AccurateCosting #ProfitMargins #BusinessTools #FinancialSuccess

Immerse yourself in the latest trends and strategies that are crucial for driving growth and stability for your company with these new articles from the May/June issue! - 2024 Compensation Challenges - Business Intelligence That Matters & How to Build It - Monitoring Your Construction Company's Vital Signs - The Chicken or the Egg: How Work & Money Are Interconnected - Surety-Backed Letters of Credit: A Potential Solution for Contractors - Construction's Lifeline: Key Metrics for Measuring Financial Health - Heavy Equipment Comparator: Executive Summary Access the full issue now at ➤ https://lnkd.in/eAq9BaYm

Let's make this the standard. Own up to mistakes and stand for appropriate planning, retain great people. Monitor your projects and don't cut corners with gossip that you should have double checked. It'll teach you a hard lesson, but it will make you irreplaceable in your postition.

The most stressful type of agency to run is one where: 1) Revenue is 100% project-based and 2) Labor is 100% recurring/fixed. If your agency is predominantly project-based... You ought to find a way to make your labor predominantly project-based.

Creating accurate job cost and equipment cost reports is crucial for construction businesses, especially during challenging seasons. These reports help uncover hidden profits and simplify complex accounting processes. Focusing on detailed and precise reporting can boost confidence in financial decision-making and maximize profitability. Equip your team with the right tools and knowledge to stay ahead with our CAMP Class: Computing & Assigning Equipment Costs To Jobs https://lnkd.in/gYiS6Mt3 (Sign up for CAMP to access 65+ classes!) #ConstructionAccounting #JobCostReporting #FinancialManagement #constructionprofits, #jobcosting, #constructionaccounting

As we cultivate the trust of our clients, we uphold a commitment to full transparency! 🌐 EVERY WEEK, we provide comprehensive reports, complete with a link to our platform. This allows you to take a virtual tour of the construction site directly from your office, ensuring you are closely connected to our progress and processes. 🏗️📊 #Construction #Communication #Reporting 👷♂️📈

See how you can track job costs for internal self-perform work while capturing revenue from external rentals, subcontractors, and consumable sales—all in one view. Gain valuable insights into the financial impact of every project. #JobCosting #ConstructionManagement #RevenueTracking

Hey wall and ceiling contractors! Ever feel like your estimating process could use a little boost? Maybe you’ve caught yourself second-guessing some numbers? It happens! Imagine how much better you'd feel with a simple scorecard to assess where you're estimating really stands. Take just a moment to fill out our quick 7-question Estimating Edge Scorecard. It’s fast, free, and you’ll get instant feedback on whether your current process might be costing you profits. Why not see where you stand? https://lnkd.in/gNK-Kb5E

Elevate Your Capex Strategy: Prioritize Roof Maintenance! In the world of Capex planning, it's easy to focus on internal upgrades, but let's not overlook the unsung hero above – our roofs. Neglecting roof maintenance can lead to unexpected leaks, turning your carefully invested funds into a soggy situation. 🏠💦 Before diving into interior transformations, consider fortifying your first line of defense. A well-maintained roof not only safeguards your investments but also ensures a solid foundation for your property's longevity. 🛠✨ Book a meeting to see how we can support you with your budget planning, for the coming financial year 📈 #PropertyManagement #RoofMaintenance #InvestmentStrategy