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Get a wide range of project-based accounting services for constructors. The contractors work from project to project and can manage multiple projects at a time. Get an account for contractors to get paid for the services. Additionally, projects do not get paid for as soon as it is completed. It might need an upfront deposit. Or the project could be paid in full or it can take months to get the final invoice settled.
Due to the following reasons, construction companies have to publish two separate statements- i.e. for profit and loss (P&L) for each project.
Construction companies also experience fluctuating overhead costs. Take into consideration the cost of insurance, travel, workers' compensation, materials, subcontractors, equipment, and more. Consider adding this factor into your construction accounting.
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