ProcStat

  WIP Reports play a critical role in helping construction companies stay financially on track throughout a project’s lifecycle. Acting as a financial GPS, they provide real-time visibility into project costs, earned revenue, over-billing, under-billing, and overall profitability. Without  accurate  WIP reporting, contractors risk cash flow issues, revenue leakage, and inaccurate financial statements. This blog explains how WIP Reports work, why they are essential for construction accounting, and how they help project managers and finance teams make informed decisions. Whether  you’re  handling multiple projects or scaling your operations, understanding WIP Reports can significantly improve financial control and long-term profitability.   Read More:    https://procstat.com/knowledge-center/blog/wip-reports-your-construction-projects-financial-gps/

  Explore how today’s CFOs approach business expenses with a strategic mindset rather than simple cost-cutting. This article breaks down how finance leaders use structured expense policies, real-time visibility, and intent-based budgeting to control spending, improve cash flow, reduce inefficiencies, and support sustainable business growth across teams.   Read More:  https://procstat.com/knowledge-center/blog/how-cfos-think-about-business-expenses/

  The One Big Beautiful Bill Act (OBBBA) has sparked confusion around whether Social Security benefits are now tax-free. This blog breaks down the reality behind the headlines, explaining how Social Security taxation actually works under the new law. Learn about the senior deduction, eligibility criteria, income thresholds, and who truly benefits from these changes. If you’re a retiree or planning retirement, this guide helps you understand what’s taxable, what’s not, and how OBBBA may impact your overall tax liability.  Read More:  https://procstat.com/knowledge-center/blog/is-social-security-really-tax-free-under-the-obbba/

    Free cash flow is one of the most powerful yet often misunderstood financial metrics for evaluating a business. While profits can be influenced by accounting methods and one-time adjustments, free cash flow shows the actual cash a company generates after covering operating expenses and capital investments. This makes it a critical indicator of a business’s real financial strength, liquidity, and long-term sustainability. By analysing free cash flow, investors, lenders, and business owners can better understand whether a company can fund growth, pay down debt, distribute dividends, or withstand economic downturns. Consistent positive free cash flow often signals efficient operations and strong management,  whereas  weak or negative free cash flow may highlight underlying issues even when reported profits appear healthy. This article explains what free cash flow truly  reveals  a business, why it matters more than profit alone, and how it helps stakeholde...

  Claim denials are more than billing errors - they are a hidden threat to clinic revenue. When insurance claims are denied due to coding issues, missing documentation, or eligibility errors, many practices overlook the accounting impact. Unresolved denials inflate accounts to receivable, disrupt cash flow, and reduce overall profitability, especially when claims are never resubmitted. Treating claim denials as a financial issue rather than an administrative task helps clinics   identif y  revenue leakage, improve denial management, and gain better financial visibility. Proactive tracking and analysis can turn lost revenue into recovered cash flow.   Read More:   https://procstat.com/knowledge-center/blog/the-accounting-reality-behind-claim-denials-that-quietly-drain-clinic-revenue/

  Filing taxes is stressful enough — but choosing the wrong IRS form can quickly turn a simple mistake into penalties, delays, and unwanted IRS attention. This blog breaks down what actually happens behind the scenes when the IRS detects an incorrect form, why refunds get delayed, how penalties stack up, and which errors increase your audit risk. You’ll also learn the fastest, most effective ways to fix the issue, from amending your return to correcting information-return mistakes before they escalate.   Whether you’re a business owner, freelancer, or individual taxpayer, this guide helps you avoid unnecessary fines, reduce processing delays, and stay in the IRS’s good books.   Read the full blog to understand the risks, the real penalties, and the quickest fixes — before a simple mistake becomes a major problem.   Read More: https://procstat.com/knowledge-center/blog/what-happens-if-you-file-the-wrong-irs-form-real-penalties-delays-how-to-fix-it-fast/