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It doesn’t matter if you’re in the field or in the office, AI saves time for everyone. In the near future AI is expected to compliment workers, not replace them. 

Automating accounting & bookkeeping can be an absolute game changer for your construction business.

Any lease with a term of one year or more will need to be recorded as a right-of-use asset and liability and amortized over the full lease term. That could have a massive impact on working capital calculations throughout the industry because any long-term leases will also be recorded as current liabilities, compared to just long-term assets.

Armanino announced in March that it would be opening its arms to address manufacturer and distribution client needs.

The Construction Management Association of America (CMAA) and the National Association of Women in Construction (NAWIC) signed a cooperating agreement in early May 2023.

Check out the insights from the latest Artificial Intelligence in Building Market Report!

Foundation Software buys AboutTime Technologies.

Here are some of the ways that high interest rates affect the construction industry. 

Wouldn’t it be nice to build a brand new pool and then write it off as a tax deduction?

100% Bonus depreciation ended in 2022. Following 2022, bonus depreciation will decrease by 20% every year until 2027 when it’s finally down to 0%. 

We’ve seen price reductions and incentives throughout 2023.

The construction accounting software market is projected to grow $943.91 million to $1,217.42 billion in 2028!

Forbes recently released their rankings of the Best Construction ERP Systems for 2023. Check it out!

Ultimately, the combination of rising interest rates and high prices should have an impact on the demand curve and we should see some decreases this year.

We’re a long way away from AI completely taking over bookkeeping. However, bookkeepers who’s value consists mostly of reconciliation and data entry will likely be the first ones phased out.

Intuit, the software developer famous for products like QuickBooks, TurboTax and Credit Karma, has launched a small business index

Associated Builders and Contractors reported on April 11, 2023, that its Construction Backlog Indicator(CBI) declined to 8.7 months in March, according to an ABC member survey conducted from March 20 to April 3. The reading is 0.4 months higher than in March 2022.

For years, many bookkeepers have preferred QuickBooks Desktop over QuickBooks Online. According to Intuit, next month, after May 31, 2023 Quickbooks Desktop services are unfortunately being discontinued. This includes all 2020 versions Of QuickBooks Desktop Pro, Premier and Enterprise Solutions.

Learn about Tonya Schulte's latest series on how contractors use Knowify.

Total construction spending was down in January 2023 from December 2022.

The International Roofing Exposition just concluded in Dallas!