Construction Financial Management Articles

CONSTRUCTION FINANCIAL MANAGEMENT BLOG

Working in the back office may keep the hard hat off your head, but you're still rolling up your sleeves and doing the hard work your company needs; coding time and material against projects, processing payroll, managing receipts and invoices, etc.

Access hh2's Construction Financial Management blog for industry insights and trends, construction best practices, as well as tips and tricks that'll help construction back office drive productivity, accuracy, and efficiency.

8 Job Costing Tips To Keep Your Construction Projects on Budget

With an average profit margin of just 6%, contractors can’t afford costly overruns. Unplanned...

Pay Stubs Don't Need To be a Headache for Everyone

Pay stubs are often a pain point for both employees and HR teams. When your crew needs one, it’s...

The Benefits, Best Practices, And Importance Of Migrating To Cloud-Based Construction Management

With uniquely complex compliance and project management, running a successful construction business...

What is Certified Payroll in Construction? Guide for Contractors

1. Introduction: Certified Payroll in Construction 2. What is Certified Payroll? 3. Who Needs to...

4 Top Time Tracking Solutions That Integrate with Sage 300

Your project managers, payroll department, and job costing teams rely on accurate time-tracking...

6 Benefits of AP Automation for Construction

Is AP automation worth it for construction companies? Absolutely! Here are six key benefits:

How hh2 integrates with Viewpoint Vista

Viewpoint Vista and hh2 are two of the most robust software programs for construction companies....

How hh2 Automates Construction Accounts Payable

How hh2 Integrates with Sage Intacct

Many construction companies use accounting software like Sage Intacct to improve their payroll...

How hh2 Integrates with Sage 100

The construction industry is known for handling multiple projects at once. As construction...

How hh2 Integrates with Sage 300

Just like every other industry, construction organizations have been embracing new technologies to...

How hh2 Integrates with Viewpoint Spectrum

From project management tasks like time tracking and document management to accounting functions...

How to Calculate Cash Flow in Construction

A construction company’s financial health greatly depends on a positive cash flow. Without proper...

AP Automation in Construction: The How, The Why, The ROI

In the construction industry, time is money. The longer it takes to process invoices and accounts...

How To Calculate Labor Cost in Construction

Accurate labor cost calculation is critical in construction and can help construction companies...

The Importance of Labor Tracking and Job Costing in Construction

Effective labor tracking and job costing are crucial for managing budgets, improving project...

How to Implement AP Automation in Construction

Managing accounts payable is a cumbersome task at most construction companies. Between the...

Streamline Your Construction Receipts With Sage Integrations

Business expense receipts may seem simple, but the process is more complicated when you’re in the...

Alternative Construction AP Automation Tools for Sage Paperless

Sage is one of the most prestigious brands in back-end business and resource management. In recent...

How to calculate construction payroll with overtime?

Did you know the construction industry has one of the highest rates of wage and hour violations?...

How Your Construction Company Can Keep Credit Card Receipts Organized

Credit card receipt management seems like a straightforward process, but construction companies...

Top Sage App Integrations You Can't Live Without

Anyone who works in construction knows that disconnected and manual processes can slow down work...

Construction Invoices vs Receipts: What's the Difference

Invoices and receipts play a huge role in the construction industry — they’re how you get paid for...

Mid-Year Checkup: Essential Metrics to Assess Your Construction Company’s Financial Health

As the finance team of a construction company, your main responsibility is managing its financial...

5 Overlooked Strategies to Streamline the Construction Back Office

Construction work happens in the field and on job sites, but the work that makes that all possible...

Four Tips to Master Construction Accounts Payable

Every time a construction company purchases materials, receives an invoice, or signs a contract...

Is Sage 300 the same as Timberline?

Sage 300 Construction and Real Estate (CRE), formerly known as Timberline, is a rebranded and...

7 Ways to Streamline Construction AP Processes

As a construction company grows, it must build relationships, take on new opportunities, and spend...

Grow and Scale Faster with a Data-Driven Finance Team

Data is everywhere in our modern world. It’s also one of a company's most essential and valuable...

How Construction Finance Teams Leverage ChatGPT and AI

Artificial intelligence, or AI, is a hot topic right now, and for a good reason. In 2023 alone, 73%...

6 Must-Have Field Reports for Finance Teams

If there’s one truth in construction, expect the unexpected. With weather delays, permitting...

5 Reasons Why You Should Integrate Your Construction Tech Stack

Picture this—you’re a project manager on a big commercial construction project. Much of your time...

5 Essential Tips for Simplifying Construction Payroll

Payroll is a favorite time for employees who get their paychecks. However, for the staff tasked...

How Much Does Sage 300 CRE Cost?

Sage 300 Construction and Real Estate (CRE) is a powerful software solution designed to meet the...

What is Sage CRE 300?

Sage CRE (Construction and Real Estate) 300, formerly known as Sage Timberline Office, is a...

5 Tips to Reduce Construction Labor Costs

While demand for construction projects and services continues to increase, a growing shortage of...

6 Invoice Management Best Practices for Contractors

Many construction companies still rely on traditional paper-based invoices and physical routing and...

6 Best Practices for Credit Card Receipt Management for Construction Companies

Construction projects are complex and often fast-paced, complicating the process of tracking...

When is Certified Payroll Required?

Introduction What is Certified Payroll? Certified payroll is a specialized form of payroll...

The Ultimate Guide To Construction Project Management

Table of Contents Introduction Definition and Significance of Construction Project Management...

The Ultimate Guide to Construction Cost Codes: Enhancing Project Efficiency and Profitability

Table of Content Introduction: Discover the transformative power of construction cost codes in...

THE HIDDEN COSTS OF DISCONNECTED DATA SYSTEMS AND HOW IT HURTS PROFITABILITY, EFFICIENCY, AND ACCURACY

Construction companies produce vast amounts of data each day—from construction bids, project...

NEW CONSTRUCTION IS SELLING FOR LESS THAN EXISTING HOMES, BUT THAT’S MISLEADING

The exploding residential market continues to skyrocket, rising as quickly as manpower and material...

RESIDENTIAL CONSTRUCTION BOOMS IN THESE TEN CITIES

The massive boom in residential construction remains in the news, even with a slowdown at the...

CONTROVERSY RAISED OVER NEW CONSTRUCTION VERSUS PRESERVING OLD

Changing zoning and up-zoning California lives in the middle of a housing crisis, particularly in...

REDUCE, REUSE, RECYCLE: MORE THAN JUST A SLOGAN

Redefining the purpose A slogan that we heard as kids in school has entered a more professional...

10 ESSENTIAL BENEFITS OF USING CONSTRUCTION COST CODES

Navigating the complexities of construction project management demands precision, especially when...

I.M. PEI: ICONIC ARCHITECT DESPITE FLAWS AND CHALLENGES

Still working at age 99, Ieoh Ming Pei, better known as I. M. Pei, is the architect behind many...

TIME TRACKING IN CONSTRUCTION: THE KEY TO EFFICIENCY AND SUCCESS

Understanding Time Tracking in Construction Time tracking in construction is a systematic process...

THE LINK BETWEEN ARCHITECTURE AND ARCHAEOLOGY

Discipline or heritage? Architecture thrives on a combination of multiple disciplines, such as...

FOUR AREAS WHERE CONSTRUCTION COSTS ROUTINELY EXCEED BUDGET

While budgets are developed with cushions for unexpected pitfalls, there are areas where budgets...

ANIME ARCHITECT SHOWS PARALLELS BETWEEN CLASSIC ANIME FILMS AND FUTURE ARCHITECTURE

A new book from Thames and Hudson, ANIME ARCHITECTURE, edited and curated by Stefan Riekeles,...

SWITZERLAND QUIETLY LEADING THE WORLD IN SUSTAINABLE CONCRETE

Some scientists speculate that concrete production contributes to 6% of the world’s greenhouse...

COST CODES: AN ABSTRACTION OF THE GENERAL LEDGER

'30 Thousand Foot View' or 'In the Weeds' In any industry, tracking costs contributes a critical...

POLISH CONSTRUCTION COMPANY CREATES ASPHALT THAT SMELLS LIKE FLOWERS

On the lighter side of construction, Budimex, a construction firm out of Poland, and Polish oil...

ROBOTIC CONSTRUCTION SYSTEM COMBINES BIM WITH SPEED

Purdue University presented a new robot at the 2021 Technology Showcase: The State of Innovation....

MASTER EFFICIENCY WITH CONSTRUCTION TIME TRACKING

Construction projects have long been a testament to the intricate dance between creativity and...

FODOR’S NAMES ITS MOST NOTORIOUS CONSTRUCTION PROJECTS

Spectacular fails Fodor’s, a famed international travel guide, cites notorious construction...

10 BOARD-WORTHY BUSINESS REASONS FOR BLOCKCHAIN IN CONSTRUCTION

‍ Part Two: Making the Business Case In Part One of this three-part series, we defined the...

NEW RESIDENTIAL BUILDING TREND: NOBODY WANTS AN OPEN KITCHEN

Flying in the face of nearly two decades of architectural thought in the residential space —the new...

JAYME WOODHOUSE - VP OF CUSTOMER SUPPORT

What is your job title, and how long have you been at hh2? VP of Customer Service. Been with hh2...

WHY CONSTRUCTION PERSISTS AS ONE OF THE BRIGHT SPOTS IN THE RECESSION

Impervious to economic downturns While most industries see slowdowns in growth, the construction...

UPDATING SAGE ACCOUNTING SYSTEMS

hh2 was designed from the ground up to sync with Sage accounting, specifically Sage 300...

HOW THE GREAT CHICAGO FIRE CHANGED THE CITY’S—AND THE WORLD’S—ARCHITECTURE

One hundred fifty years after the inferno that swept Chicago, architects and historians explore the...

HOW TO SET UP BLOCKCHAIN FOR YOUR CONSTRUCTION COMPANY

Part Three: Cautiously takeoff! Part One of this three-part series discussed the potential...

CRACKING THE CODES OF CONSTRUCTION

3 Conventions for Successfully Managing a Job Construction companies use many ways to track the...

USING CONSTRUCTION TIME TRACKING TO BOOST PRODUCTIVITY

The construction industry, with its intricate web of projects, resources, and timelines, demands...

4 WAYS DRONES HELP CONCRETE CONSTRUCTION

‍ Construction companies use drones mostly to get bird’s eye views of job sites. However, concrete...

THERMOSET TECHNOLOGY IN ARCHITECTURE

What was once a material originally engineered for the construction of airplanes, thermoset...

BEST PRACTICES FOR MANAGING ACCOUNTS PAYABLE IN CONSTRUCTION

Best Practices for Managing Accounts Payable in Construction Managing accounts payable in the...

FIVE BENEFITS HH2 DOCUMENT FLOW ADDS TO YOUR CONSTRUCTION BUSINESS

hh2 Remote Payroll reigns as the most popular of our mobile products. But did you know that we also...

FRANK GEHRY: LOVE HIM OR HATE HIM

From truck driving to radio, to engineering... Despite being named “The Most Important Architect of...

NEW DETAILS EMERGE ABOUT MASSIVE RAIL PROJECT BETWEEN LOS ANGELES AND LAS VEGAS

Connecting 260 miles between LA and Vegas A new website has launched for a new public high-speed...

IS FUNGUS THE FUTURE OF SUSTAINABLE BUILDING?

Breaking the mold? We’ve covered the topic of sustainable construction and the carbon footprint of...

MODULAR HOME CONSTRUCTION HAS GONE HIGH CLASS

Luxury buyers go modular Most think of modular home development as high production of low-cost...

RECORD THE TIME YOU ARE USING EQUIPMENT ON-SITE FOR EQUIPMENT REVENUE

Traditional methods = traditional problems ‍ hh2 Remote Payroll allows you to record equipment...

ACCELERATE YOUR WORKFLOW WITH HH2 EQUIPMENT TIME TRACKING

Equipment time entry has revolutionized the construction industry, with multiple entry screens and...

EVERYTHING YOU NEED TO KNOW ABOUT CONSTRUCTION TIME TRACKING SOFTWARE

Time tracking tools can help improve efficiency for financial teams in the construction industry –...

BIOMIMETICS DRAWS BUILDING SOLUTIONS FROM NATURE

Biomimicry imitates the models, systems, and elements of nature in order to solve complex human...

WAR IN UKRAINE WILL HAVE EFFECTS ON GLOBAL CONSTRUCTION PRICES

A Friday newsletter from the Associated General Contractors of America claims that Russia's...

UNLOCKING PRODUCTIVITY: A GUIDE TO EFFICIENT TIME AND ATTENDANCE SOLUTIONS FOR CONSTRUCTION

In the fast-paced world of construction, where every second counts, the traditional methods of time...

SHOULD WOODEN CONSTRUCTION BE CONSIDERED SUSTAINABLE?

Wood is a renewable source The publication Arch Daily recently published an op-ed questioning the...

START-UP TURNS NON-RECYCLABLE PLASTIC INTO BUILDING BLOCKS

Although many believe plastic's recyclable properties reduce pollution and alleviate the trash...

The Comprehensive Guide to Construction Job Costing

What is Job Costing? Job costing is a method of cost accounting used to determine the cost of...

ARE INSTAGRAM AND 'SOCIAL MEDIA ARCHITECTURE' RUINING CONSTRUCTION DESIGN?

Good design or good photo ops? ArchDaily tackled a topic that may seem odd at first, but which they...

HOW THE BRAIN RESPONDS TO ARCHITECTURE

Emotional response We all know that we respond emotionally to architecture. The style and quality...

CONSTRUCTION INDUSTRY: READY FOR A BLOCKCHAIN REVOLUTION?

Part One: The Basics The construction industry may be in for a significant change with the advent...

BETTER THAN MOST REGIONS — THE STATE OF CONSTRUCTION IN NORTH AMERICA

‍ North America is healthier than most Investment Monitor cited new April 2022 figures from...

CONSTRUCTION PAYROLL MADE EASY

In construction, where innovation shapes skylines and buildings rise from the ground up, an often...

$54 BILLION WEARABLE TECH INDUSTRY OFFERS IMMENSE OPPORTUNITY FOR CONSTRUCTION INDUSTRY

Expected to reach $54 billion by 2023, the wearable tech market offers to transform the...

BUILDING SUCCESS: HOW TIME TRACKING BOOSTS CONSTRUCTION PRODUCTIVITY

In the fast-paced world of construction, effective time and attendance management is essential to...

7 REASONS TO SWITCH TO HH2 REMOTE PAYROLL

‍ Weekly payroll is the industry standard Do you work in the construction industry? If so, it’s a...

SUBCONTRACTOR COMPLIANCE WITH HH2 DOCUMENT FLOW

Need help adhering to construction compliance? If you're in the construction industry, you know...

CONSTRUCTION TIME TRACKING SOFTWARE: BOOST EFFICIENCY WITH TIME CLOCK DECIMAL CONVERSION IN MINUTES

Summary Understanding Time Tracking in Construction Features and Functions of Construction Time...

HOW SAGE SOFTWARE ENHANCES COST CONTROL IN CONSTRUCTION

How Sage Software Enhances Cost Control in Construction Managing construction projects is no simple...