Author: Home Builders Financial

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Top Financial Pitfalls Faced by Contractors and Custom Home Builders – and How to Avoid Them

Between balancing multiple budgets and timelines, accounting for various payment types and salary schedules, and managing overhead costs, contractors and custom home builders face a unique set of financial challenges – which can come with unique pitfalls. By understanding and addressing these pitfalls proactively, construction industry professionals can attain financial stability and achieve long-term growth. …

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How Custom Home Builders and Contractors Can Prepare for Financial Audits

For custom home builders and contractors, financial audits are crucial in ensuring transparency, accountability, and compliance with regulatory requirements. Preparing for an audit can be a complex and time-consuming process. With the right strategies and practices, you can streamline the audit experience and ensure a successful outcome. Follow these essential steps to ensure that your …

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Four Ways AI Can Benefit Custom Home Builders

Although artificial intelligence (AI) once sounded like something from the future, it is quickly becoming a mainstay in modern businesses. From chatbots used on e-commerce sites to schedule management software, AI has worked its way into nearly every industry – including construction. Custom home builders are adopting AI technologies to streamline the construction process, improve …

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The Top Four Accounting Methods for Custom Home Builders

Construction accounting is a specialized practice, and not just because of the dozens of transactions involved with each build. There are several accounting methods that can be used by contractors to help track income and expenses, improve cash flow, and ultimately increase profitability. Here are the top four accounting methods we recommend for our custom …