Get Answers to Your Questions
Have questions about Big Office Man CFO's accounting services for construction businesses? Explore our Q&A page for clear, insightful answers. We're here to help you make informed decisions.
This is a tough question but because of our unique mix of quality people we can generally be less cost than you would hire your own person. This also allows less drama in the office.
Yes, we have a tool you can enter some numbers from your tax returns, adjust some questions and get a pretty good range. If you want more detailed assistance and a more precise number we can assist with that for $1,500 fee. Or you can stick with the DIY for free.
We communicate with you about your working capital requirements, how to improve them, and how you get over your skis. Beyond the numbers is understanding how underwriters look at your business.
Normally we can onboard in 60 days if we are able to collect all the information from our clients. This varies but once you are onboard the lenders and bonding agents will be able to help you finance your business.
A contractor doing up to about 5 million in revenue is generally okay with quickooks type software. When you can no longer run your company by knowing what is going on, or you constantly get surprised by the numbers, it is time to upgrade to and ERP system so you can get your arms around your business and WIP better.
Remember budgets are a tool for projection where you want to go. The best use of that tool is to communicate with your team where you are going. At the essence of a budget is planning. Planning is difficult in a construction company because you are subject to the next job; However, it is an excellent tool to let people know what you expect in cost, production, margins, equipment, and safety/risk.
We begin with finding out the cause of cash flow issues. Might be lack of attention, management communication, knowing your costs, margin fade. Important to diagnose the cause and begin to improve. Another avenue is having enough capital to complete a current work load, so having enough cash on hand is crucial to grow your construction company.