Top 5 Challenges for Australian Construction Companies in 2022

With the persistence of COVID-19, the challenges that the construction sector in Australia faces in 2022 are not getting easier. Everything that a successful construction site needs to finish the projects on time and on budget is constantly harder to get. We have listed some of the biggest challenges below. Not enough skiller labour When …

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AIA construction codes for construction billing

What are construction cost codes? Construction cost codes are the defined list of codes that are used for tracking, managing, reporting on the amounts, quantities, budgets, profit, and other account information associated with the job. What is AIA? The American Institute of Architects (AIA) is a professional association with approximately 90,000 members who are licensed …

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Product updates: Multi-currency, multiple approval rounds, and more

Multiple currencies in a project We’ve had support for different currencies on the project level for a while already. Some of our customers however need to have their costs and incomes in different currencies. Or maybe even have their costs in multiple different currencies since the suppliers are in a number of countries. It is …

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What is Construction Accounting?

Intro to Construction Accounting Construction accounting is a different form of accounting than for many regular companies. Construction accounting is usually rather project-based instead of doing bookkeeping on the whole company level. This becomes even more crucial when you are a contractor company and have multiple clients. You probably want to know the P/L (profit/loss) …

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