Month: July 2025

Choosing the Right Software for Project Management and Accounting

Managing construction projects requires the oversight and coordination of many moving parts, including staff, equipment, regulations, timelines, and budgets. Having the proper software in place to facilitate operations can have a significant impact on a project’s success. Choosing the project management and accounting software that works best for your needs will help your business operate more smoothly, efficiently, and effectively.

Construction Project Management Software

Construction project management software allows project-related information to be updated and shared with the necessary parties. This software assists with various aspects of projects such as scheduling, contract and permit management, quality assurance, and safety. Construction Coverage lists some of the key features to look for in construction project management software, including:

Scheduling and Task Tracking, e.g., calendars, task lists, punch lists.
Document and File Management, e.g., submittals and RFIs, change orders, plan markup.
Financial Management, e.g., budgeting, cost code tracking, retainage management, purchase orders, bids and contracts, invoices, forecasting.
Communication, e.g., mobile compatibility, instant and remote syncing, customer and subcontractor portals.
Reporting and Analysis, e.g., reports, dashboards, visualizations.
Integrations, e.g., accounting software, legal and compliance software, CRM software, bidding software.

Construction Project Management Software Options

While many project management programs perform similar functions, user experience and integration capabilities vary depending on the product. Some systems work better for certain types of companies or specializations. Construction Coverage has compiled a list of the best project management software for 2025, along with detailed descriptions of each, including which programs are best suited for different types of companies. Construction Coverage’s guide ranks the following as the best project management solutions for 2025:

Procore (best rated overall)
Sage 100 Contractor (for small to mid-size firms)
Buildertrend (for home builders and remodelers)
RedTeam Go (for small businesses)
Smartsheet (for small businesses)
Sage 300 CRE (for large enterprises)
Autodesk Construction Cloud (for large projects and teams)
CoConstruct (for client communication)
SmartUse (for document management)

For smaller businesses with limited budgets, choosing the basic subscription tier for these programs may be the most cost-effective and realistic solution. There are also some free all-purpose project management solutions (not construction-specific) available, such as Asana and Trello.

Construction Accounting Software

Construction-specific accounting software possesses features designed specifically for construction companies in addition to general accounting capabilities. These programs give contractors and construction managers access to project-specific financial data, taking into consideration the scope, costs, and revenues of projects, as well as other factors. According to Construction Coverage, some features to look for in construction-specific accounting software include:

Job Costing, e.g., cash flow projections, budget management, production reports.
Revenue Recognition, Construction Billing, and Retainage, e.g., progress-complete invoices, AIA billing, retainage reports, cash receipt tracking, sales and tax liabilities, change orders, purchase orders.
Payroll Management and Labor, e.g., certified payroll reports, EEO compliance reports, workers’ compensation tracking, union reports, fringe benefit calculations.
Integrations, e.g., project management software, time-tracking software, construction estimating software, field data software, inventory management software, CRM software.

Construction Accounting Software Options

Construction Coverage lists the best construction accounting software solutions for 2025. This list includes the following programs, along with detailed descriptions of each:

CMiC (best rated overall)
Foundation (for firms of all sizes)
Sage 100 Contractor (for small and midsize firms)
QuickBooks for Construction (for small businesses)
Sage 300 CRE (for midsize-large firms)
Jonas Enterprise (for large companies)
Deltek ComputerEase (for financial reporting)

Choosing the Software that’s Best for You

For both project management and accounting software, requesting a product demo is a good way to assess whether a product will work for your specific needs. Remember—when choosing software for project management and accounting, make sure that the programs are able to integrate with each other. For more details on each program, including pros and cons, refer to Construction Coverage’s guides for The Best Construction Project Management Software for 2025 and The Best Construction Accounting Software for 2025.

While you decide which software is right for you, RBT CPAs is here to support all of your business’s accounting, advisory, tax, and audit needs. Please note that we also offer QuickBooks training to help clients learn QuickBooks accounting software. Give us a call today to learn more and to find out how we can be Remarkably Better Together.

The Importance of Internal Controls and Internal Control Assessments in Public Housing Authorities

Internal controls in Public Housing Authorities ensure that public funds are being allocated and used properly. Management at all levels is responsible for implementing and updating these controls. When correctly implemented, a system of internal controls helps to minimize financial risk, prevent fraud, and maintain the accuracy of financial records. Internal control processes must be regularly assessed in order to maintain their effectiveness.

What are internal controls?

Internal controls are processes designed to help prevent fraud, enhance the reliability of financial statements, reduce the risk of unexpected financial losses, and ensure compliance with laws and regulations. Internal controls include procedures for authorization, recordkeeping, reconciliations, and auditing.

Why do PHAs need internal controls?

According to the Office of Inspector General’s Integrity Bulletin, internal controls serve the following purposes for PHAs: they protect assets (including cash and physical assets such as buildings), ensure the accuracy of records, promote operational efficiency, achieve the mission and goals of the PHA, and ensure compliance with policies, rules, regulations, and laws.

Implementing Internal Controls

Senior managers are responsible for establishing, enforcing, and maintaining internal control systems for key operational and financial processes. Some areas for which internal controls should be established include:

Tenant eligibility
Tenant files
Cash management
Procurement
Payroll processing
Budgeting
Bank reconciliations
Financial recordkeeping
Financial reporting
Internal audits
Cash disbursements
Cash receipts

The Office of Inspector General recommends the following internal control methods for maintaining operational effectiveness and preventing abuse:

Establishing responsibility by assigning each task to only one person and maintaining organizational structure
Implementing a separation of duties
Using compensating controls such as additional monitoring or secondary sign-offs when a separation of duties is not possible
Restricting access to systems, information, and assets to necessary parties only
Creating policies and procedures with written directives
Establishing systems of recordkeeping

Assessing Your Internal Controls

Regularly evaluating your PHA’s internal controls is a critical step for minimizing financial risk. Weaknesses in internal controls can develop if employees misunderstand the guidelines or if the guidelines are not updated to match changing regulatory requirements. All of the mechanisms discussed above must be periodically reviewed to ensure that they are achieving their objectives in preventing risk to the PHA.

Reviewing internal controls may involve the use of risk assessments, which identify potential threats and weaknesses in the operations of the organization. Audits of financial records can also help to identify gaps in compliance. If weaknesses are found, then operating procedures can be amended accordingly.

Need help reviewing your internal control processes? RBT CPAs’ experts are available to provide internal control assessments for your PHA. At RBT CPAs, we understand the unique compliance and regulatory environment that PHAs operate within. Our firm has been serving organizations in the Hudson Valley and beyond for more than 55 years. You can count on RBT CPAs’ professionals to help maintain your PHA’s reputation for transparency, accountability, and trustworthiness by providing exceptional accounting, advisory, audit, and tax services.

For more information about how our firm can help to maintain the financial health of your PHA, visit our website or give us a call.

How Breweries and Distilleries Can Meet Evolving Consumer Preferences in 2025

As anyone in the alcoholic beverage space is aware, societal and generational trends are major drivers of consumer behavior and product sales. The last several years have seen a prominent shift in consumer priorities and preferences, especially among younger generations of buyers. This shift is propelled largely by an increased focus on health and mindfulness, a desire for convenience and variety, and the growing influence of digital marketing, among other factors. So, how can alcoholic beverage producers adapt to these changing preferences?

First, let’s look at some of the priorities influencing alcoholic beverage choices in 2025, particularly among younger generations.

Priorities and Factors Driving Consumer Choices in 2025

Health and wellness
Convenience
Mindful drinking
Sustainability and ingredient transparency
Innovative and exciting flavors
Experience-driven offerings
Social media influence

How to Leverage Changing Consumer Preferences

Focus efforts on social media marketing: It’s no secret that younger generations are heavily influenced by internet trends and social media. NIQ, in its analysis of alcoholic beverage trends for 2025, states, “Digital engagement is revolutionizing the beverage industry, reshaping how consumers discover, interact with, and purchase their favorite brands. Social media platforms like Instagram, TikTok, and Pinterest are leading this transformation, serving as hubs for inspiration, education, and commerce.” Brewers and distillers can make the most of digital marketing opportunities by utilizing social media platforms, partnering with social media influencers, and creating shareable brand experiences and stories.
Get on the RTD train: Ready-to-drink cocktails continue to grow in popularity, as younger consumers seek convenience and exciting new flavor profiles. NIQ reports, “With strong growth between 4% and 5% YoY for the past 4 years, RTD now makes up 12% share of Total Alcohol dollar sales. Convenience, versatility, and innovation are driving factors behind this trend, as consumers increasingly gravitate toward pre-mixed beverages that offer high-quality taste without the need for preparation.”
Consider health-conscious consumers: Younger generations are increasingly prioritizing moderation and mindfulness in their drinking habits, due to a growing focus on health and wellness. Research and Markets reports, “As health-conscious consumers are focusing on wellness, the demand for low-alcohol, lower-calorie, and alcohol-free beverages has increased…These options appeal to people who want to indulge in the social benefits of drinking without sacrificing their health objectives.” Alcoholic beverage producers can adapt to these shifting consumer preferences by offering healthier or low/no-alcohol options alongside their traditional offerings.
Focus on experiences: Though many young people are leaning towards moderation, many are still interested in the social aspect of drinking. Interactive or immersive experiences can make your brewery or distillery more appealing to younger consumers. Entertainment such as games and live music, unique food options, special events, and interactive elements such as self-pour stations all make for a more memorable guest experience.
Lean into sustainable practices and ingredient transparency: Many consumers, particularly members of younger generations, continue to prioritize sustainability and transparent ingredient sourcing in 2025. OhBEV, in its 2025 Trends and Forecast report, states, “From water conservation in beer brewing to solar-powered distilleries for whiskey, meaningful environmental initiatives resonate deeply with Gen Z and Millennials. Storytelling around farmland stewardship, carbon neutrality, or local sourcing is increasingly vital.”

Potential Tax Savings When You Innovate

Adapting your business to changing consumer preferences not only encourages growth, but it may also save you on taxes. For example, if you choose to develop new products or flavors to meet shifting demand, you may be eligible for federal research and development tax credits. Some examples of activities that may qualify for R&D credits are: developing new products, updating fermentation techniques, experimenting with new ingredients, creating new flavors, and improving production processes.

For more information on tax-saving opportunities—or for any of your accounting, advisory, tax, and audit needs—don’t hesitate to reach out to our experts at RBT CPAs. Contact us today to find out how we can be Remarkably Better Together.

New York State 2025-26 Enacted Budget: Impact on Education

In early May, after a delay of several weeks, the Senate passed the Fiscal Year 2025-2026 State Budget. New York lawmakers have emphasized the need to safeguard economic security in the state, particularly in light of recent cuts to federal funding. This year’s budget is centered on the priority of affordability for New York’s working families, focusing on financial relief, investment in education, housing initiatives, healthcare, mental health, and support for workers, among other initiatives. The $254.3 billion enacted budget—the largest in New York’s history—allocates significant funding towards various education and child-focused programs, with the aim of supporting New York’s children from early childhood through college. Below are some of the State’s key investments in education and youth for the year 2025-2026, according to the New York State Senate website.

Early Childhood

Additional $400 million for Child Care Block Grant funding to provide affordable child care to families in the state (totaling $2.2 billion).
Establishment of a Child Care Substitute Pool.
$100 million in capital funding for expansion of existing child care centers and establishment of new centers.
$10 million in federal funds for home-based child care facility renovations.
$21.6 million for youth development programs.
$12.5 million for “Get Offline, Get Outside 2.0” to support youth programming, including sports teams, theater programs, community garden programs, music programs, and more.
$76.5 million for NY PLAYS for the construction and renovation of playgrounds.
$100 million for NY BRICKS for the construction and renovation of community centers.

K-12 Education

$37.6 billion for school aid (an increase of $1.7 billion).
$26.4 billion for Foundation Aid (a $1.4 billion increase).
$59.3 million to expand non-BOCES career and technical education (CTE) programs to 9th grade.
Increased salary cap for BOCES instructors, phasing from $30,000 to $60,000 by 2028-29.
$340 million for free universal school meals, providing free breakfast and lunch to all students in New York State public schools regardless of income.
$13.5 million for school storage solutions to support “distraction-free learning” cell phone policies.

Higher Education

$2.3 billion in capital funding for SUNY (an additional $160 million).
$580.4 million in capital funding for CUNY (an additional $83 million).
$14 million in operational funding for SUNY community colleges (an increase of $6 million).
$9.3 million in operational funding for CUNY community colleges (an increase of $4 million).
Establishment of the New York Opportunity Promise scholarship, a program designed for adults ages 25-55 pursuing associate degrees in high-demand fields such as teaching, nursing, engineering, and technology.
Restored funding for the Higher Education Opportunity Program (HEOP), providing access to higher education for educationally and economically disadvantaged students.

The 2025-2026 state budget expands opportunities for education and youth development across all age groups in New York. While your school district navigates state-funded programs and initiatives, know that RBT CPAs is here to support all of your accounting, audit, tax, and advisory needs. Contact us today to find out how we can be Remarkably Better Together.