Financial Management Resources
Learn from experts in accounting, bidding, estimating, financing, and contracts. Grow your business with a solid understanding of construction finance and cash flow.
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The Basics of Construction Financial Management
Construction financial management involves strategic planning, organizing, directing, and controlling of financial resources to manage the financial performance of a construction project or company. Because construction is a complex, high-risk, project-based field, financial management involves a wide range of skills and roles.
From estimating and bidding to contract formation and accounting systems, construction finance professionals are responsible for guiding a construction business toward growth.
Financial management in construction involves a variety of activities, including:
- Budgeting
- Accounting
- Invoicing
- Collections
- Contract administration
- Cost control
- Estimating
- Cash flow management
Learn with a deep dive into the roles and responsibilities of a construction finance manager.
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Introduction to Construction Accounting
Construction companies have to make difficult choices among many financial alternatives, like bidding on one project over another, selecting financing for materials or equipment,...
![article-image](https://www.procore.com/library/wp-content/uploads/2022/12/Contractor-Financing-300x150.jpg)
Contractor Financing: The Complete Guide
The financial success of a construction business depends largely on its ability to manage cash flow. Throughout a project, contractors face a significant outlay...
![article-image](https://www.procore.com/library/wp-content/uploads/2024/02/Cost-reporting-in-Construction-Procore-Blog-Hero-300x150.png)
Cost Reporting in Construction: Tracking a Project’s Financial Health
Knowing a construction project’s financial health can decide its success in an industry where projects are complex and budgets are tight. One of the...
Accounting
![Illustrated bar chart overlaid on person performing financial calculations](https://www.procore.com/library/wp-content/uploads/2022/12/Construction-Accounting-Introduction-300x150.png)
Introduction to Construction Accounting
Construction companies have to make difficult choices among many financial...
![Photo of 2 people using a laptop and calculator](https://www.procore.com/library/wp-content/uploads/2024/02/Job_Costing_in_Construction-300x150.png)
Job Costing in Construction: A Blueprint for Tracking Project Costs
Job costing is the process of tracking costs and allocating...
![Illustration of contractor with graphs showing percentage of completion](https://www.procore.com/library/wp-content/uploads/2017/06/The-Percentage-of-Completion-Method-Explained-300x150.png)
The Percentage of Completion Method Explained
The Percentage of Completion (POC) accounting method is often used...
![Photo of 4 construction professionals reviewing data on a tablet](https://www.procore.com/library/wp-content/uploads/2024/02/Revenue_Recognition_Construction-300x150.png)
Revenue Recognition in Construction: Accurately Monitoring Financial Health
Revenue recognition is an accounting principle that refers to how...
Contract Management
Managing and administering construction contracts requires a thorough understanding of contract types, common clauses and the variety of documents included in the agreement.
![Close up of person's hand signing a contract with another hand pointing to the document.](https://www.procore.com/library/wp-content/uploads/2022/12/Types-of-Construction-Contracts-300x150.png)
The 5 Key Types of Construction Contracts
There are five common types of construction contracts: lump sum...
![Contractor inspecting documents on a laptop](https://www.procore.com/library/wp-content/uploads/2023/06/General-Conditions-in-Construction-300x150.png)
General Conditions in Construction: A Contractor’s Guide
In construction, general conditions refer to a variety of operations,...
![Photo of 2 workers reviewing paperwork at a jobsite](https://www.procore.com/library/wp-content/uploads/2023/11/Change-Management-in-Construction-Procore-Blog-Hero-300x150.png)
Successfully Navigating Change Management in Construction
Change management in construction refers to any alteration to the...
![3 workers stand in the middle of a construction site wearing hardhats; the one on the far right is reviewing a tablet.](https://www.procore.com/library/wp-content/uploads/2023/04/6-Construction-Project-Delivery-Methods-Compared-Procore-Blog-Hero-300x150.png)
6 Construction Project Delivery Methods Compared
Construction project delivery methods help determine the way that stakeholders...
Invoicing & Payment
The construction invoicing process is unique, often requiring a variety of supporting documents to support the payment application. Owners and contractors alike need to understand their responsibilities and requirements for successful invoice submission, review and approval.
![An illustration of a construction invoice](https://www.procore.com/library/wp-content/uploads/2023/11/Construction-Invoicing-Procore-Blog-Hero-300x150.png)
A Contractor’s Guide to Construction Invoicing
Invoicing in construction is complex. Unlike most retail companies that...
![Illustration of construction payment apps with worker in front.](https://www.procore.com/library/wp-content/uploads/2023/12/Payment-Apps-Procore-Blog-Hero-300x150.png)
Construction Payment Applications: A Guide for Contractors
For general contractors, getting paid requires much more than just...
![Photo of construction professional on a cell phone while looking at a tablet](https://www.procore.com/library/wp-content/uploads/2024/02/Underbilling-300x150.png)
Underbilling in Construction: How to Capture Missing Revenue & Protect Cash Flow
Effective money management in construction projects is as essential as...
Budgeting & Cost Control
![Photo of a construction professional in a reflective vice reviewing a construction budget document](https://www.procore.com/library/wp-content/uploads/2024/02/Budget_Overview--300x150.png)
Construction Budgeting: A Key to Successful Project Delivery
In construction, where every penny counts and the unexpected is...
![Photograph of a person calculating cost codes](https://www.procore.com/library/wp-content/uploads/2023/11/Construction-Cost-Codes-Procore-Blog-Hero.png)
Construction Cost Codes: Best Practices and Industry Insights
Construction cost codes are unique identifiers that allow companies to...
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Construction Cost Estimating: A Step-By-Step Guide
Construction estimating is the process of calculating all of the...
![Photo of a cost breakdown structure diagram displayed on a desktop computer screen](https://www.procore.com/library/wp-content/uploads/2024/02/Cost_Breakdown_Structure-Blog_Hero-300x150.png)
Cost Breakdown Structure: Enhancing Financial Clarity in Construction
General contractors must closely monitor project costs across various categories,...
Cash Flow
![Managing cash flow in construction illustrated by an up close photo of 2 people's hands as they look at financial reports and laptops](https://www.procore.com/library/wp-content/uploads/2024/02/Measuring__Managing_Cash_Flow_in_Construction-300x150.png)
How to Manage Cash Flow Throughout the Construction Lifecycle
Navigating the financial ebbs and flows of construction projects demands...
![Photo of a professional looking at a cash flow report on a desktop computer](https://www.procore.com/library/wp-content/uploads/2024/01/Why-Contractors-Need-A-Cash-Flow-Projection-Report-Procore-Blog-Hero-300x150.png)
Construction Cash Flow Projection: A Deep Dive into Financial Forecasting
Cash flow projection is instrumental in evaluating a project’s financial...
![Contractor in high viz vest and hard hat holds drawings and looks at a building under construction](https://www.procore.com/library/wp-content/uploads/2023/04/Working-Capital-for-Contractors-300x150.png)
A Contractor’s Guide to Working Capital: Managing & Measuring Liquidity
Effective evaluation and management of working capital is a critical...
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Types of Capital for Construction Businesses
Construction companies need capital to get off the ground, stay...