Insights from a Construction Accounting Expert! Construction Champions Podcast 2-80 Timothy Wingate

In this episode, host Ron Nussbaum interviews Timothy Wingate, a construction industry expert who helps clients increase their revenue by 15% year-over-year. Tim comes from a family of contractors and has over 8 years of experience helping construction companies optimize their back-office operations and financial management. About Timothy Timothy Wingate Jr is the founder, and president of G+F Business & Financial Consulting, a licensed Enrolled Agent, and a construction accountant. Timothy provides specialized accounting and tax services helping business owners gain a better understanding of their finances and costs, allowing them to win better, more profitable bids. With first-hand knowledge of the construction industry, Timothy offers tools and financial guidance to improve his client's understanding of their finances and cash flow. He has a proven track record of success, including increasing a client's gross revenue by 75%, helping a new construction company finance Big CAT equipment in less than a year, and helping a client avoid criminal charges for over $500,000 in back payroll taxes. Timothy's links https://www.gplusf.com/ https://www.instagram.com/g_plus_f/ https://www.facebook.com/gplusf https://www.linkedin.com/company/gplusf/ https://www.youtube.com/channel/UC2Jfeno5_vm_wy8LcmivAmQ Website https://www.buildercoms.com/constructionchampionspodcast For CRM Solutions: BUILD12 https://www.build12.com/constructionchampions?am_id=ron625 For Picture, Video, Document, and Communication Management: BuilderComs https://go.buildercoms.com/payment-7269?am_id=podcast Association of Professional Builders Annual Report https://hubs.ly/Q02rT-1n0 Join our community: Facebook Group https://www.facebook.com/groups/957628795429538 What makes a "construction champion" (00:02:33) Executing projects on time to save money and gain more business Having a solid estimating system and process to monitor project performance The importance of financial data and metrics in construction (00:07:53) Understanding the numbers, even if they're not perfect, to make better decisions Setting up the right systems, processes, and cost codes to track performance Challenges with misaligned software systems and data entry (00:15:05) Importance of integrating project management and accounting software Establishing clear roles and responsibilities for using the software Keywords: construction accounting, financial management, Timothy Wingate, Ron Nussbaum, Construction Champions Podcast, cash flow, budgeting, project costing, construction finances, financial insights, business profitability