Current assets in the context of construction refer to any assets that are expected to be converted into cash or used up within one year. This includes items such as cash on hand, accounts receivable, and inventory of construction materials. These assets are essential for maintaining the day-to-day operations of a construction company, as they provide the necessary funds to pay for labor, materials, and other expenses. Cash on hand is crucial for meeting immediate financial obligations, such as payroll and utility bills, while accounts receivable represent money owed to the company by clients for completed projects. Inventory of construction materials ensures that the company has the necessary supplies on hand to complete ongoing projects, without experiencing delays or disruptions.Having a healthy level of current assets is important for construction companies to
What is Current Assets?
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Top 3 reasons construction finance teams use the Vergo platform
automate manual processes
Eliminate the hassle of manual data entry and repetitive tasks with our automation tools. Our platform ensures a smooth transition with free setup and ongoing support, making it easy for your team to get started.
streamline communication with the field
"Improve coordination and information flow between your office and field teams with our desktop and mobile app. Our platform enables real-time updates and seamless communication, keeping everyone on the same page.
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unlock better reporting & analytics
Transform your data into actionable insights with our powerful reporting and analytics tools. Our platform provides instant access to critical information and dedicated support to help you make informed decisions faster.
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"Our finance team absolutely love the platform."
"The platform has boosted our workflow efficiency and team collaboration. It's intuitive and user-friendly, allowing us to quickly adapt and enhance productivity."
"We saved hours eliminating manual data entry."
"Automating our data entry processes has saved us hours. The software captures and organizes our financial data accurately, reducing errors and freeing up time."
"We have so much more clarity into our project data."
"The platform gives us real-time insights into project data with advanced analytics and reports, helping us make better decisions."
