Accounting for Engineering

As engineers, you immerse yourself in technical details all day, every day. Accuracy is essential for every task you undertake. Problem-solving is in your nature.

But when it comes to business finances and managing accounts, engineers often feel overwhelmed, especially if they have no prior experience in accounting. And when you look at the industry complexities, it’s easy to see why.

The propensity for irregular work cycles within the engineering sector means that cash flow often fluctuates, creating headaches and questions for engineering companies.

Business owners also must oversee everything from project tracking and management to ensuring payroll is set up correctly and employment responsibilities are being met. Not to mention all the compliance requirements and industry regulations to stay on top of.

When you work with North Advisory, you’re working directly with Marius Fourie, Director and Business Advisor, who excels in creating strong professional relationships and communicating complex accounting topics in a way that makes them easy to understand.

This direct access becomes an invaluable support to our engineering clients who can get the answers to challenging questions, like:

• What financial metrics do I need to track to maintain profitability?
• How can I effectively manage costs like equipment rentals, materials and subcontractors?
• What’s the best accounting method for my business to forecast budget and cash flow?