If your company needs help with financial planning and tracking, check out Ascents fractional services:

Clearly laying out a financial planning process, from job costing to long-term strategy, helps everyone in the company know what their role in the financial process is and save time & money.

When Ascent looks at a company's financial processes, we work with a company’s existing team of bookkeepers, accountants, and controllers to review daily, weekly, and monthly accounting tasks.

Another thing we often see when taking on a client: a company might not having good PROCESSES for accurate job costing.💻 Along with having the right PEOPLE doing your job costing, invoicing, and tracking, making sure your team has the right processes in place is very important.

Having a dedicated project accountant can help with this but also comes with associated costs. How does a company weigh the decision to outsource their accounting or financial management? One resource that might help with these decisions:

Often, small companies do NOT ❌ have the bandwidth to do accurate job costing. Does your project manager upload and manage the invoices? Because they’re often on-site and have many other responsibilities.

What are some of the most common issues that we see, regarding accounting and finance, when taking on a client? 🧵 A thread (1/7):

Check out Ascent’s resources for financial or fractional-CFO support:

The project accounting learning curve may be bigger than you would expect. All in all, the right ✅ accountant should be saving your company money, time, and effort by accurately tracking project costs that allow you to adjust over time.

Over time, the goal is to use your past projects to tell you how to accurately estimate future projects, win work, and turn greater profits. 📈 Unfortunately, not every accountant ❌ can be a project accountant.

Plenty of small construction companies have trouble with job costing. 🤨 📊 Accurately tracking your job costs, project by project, should leave you with actual data, in real time. 🧵 (1/3)

Do these problems sound familiar to you? Check out how Ascent consulting can help solidify your accounting processes:

This is where a construction-focused 🏗️ software (e.g. Procore) comes into play. Use the right tools for the job at hand, stop making it hard to track project costs, and if all else fails, come see us at Ascent and we’ll help your business thrive! 👍

Quickbooks is NOT ❌ set up for job costing—at times, it's like trying to fit a round peg in a square hole. And while it may work, for now, you’re not building your project accounting on a solid foundation.

In our experience, smaller companies tend to think they can run their construction business on a system, like Quickbooks, that isn’t necessarily set up for job costing. 🧵 (1/3) #construction #contracting #contractor

Check out @ascentconsults consulting services—maybe even book a free consultation with me or another Ascent Consultant:

It’s easy to teach people a system if everybody’s on the same system, and it’s easy to replace somebody in a system if everybody’s on the same system. In reality, the proper strategy is necessary but if the culture is healthy and everyone is in sync, it's easy sailing. ⛵️

There’s a couple of pain points that I often see: 1. They haven’t clearly defined the roles and responsibilities of the people in the organization. 2. They don't use consistent processes.

"Culture eats strategy for breakfast." — Peter Drucker When it comes to transforming business operations, the project hinges on the change management process. All the business strategy in the world isn’t going to make a difference if people are going to keep the same routine.

There’s a couple of pain points that I often see: 1. They haven’t clearly defined the roles and responsibilities of the people in the organization. 2. They don't use consistent processes.