Remove Accounting Remove Construction Remove Contractors Remove Education
article thumbnail

Getting Accounting Aligned with the Project Management Team

Viewpoint Construction Technology

Viewpoint enables contractors to better manage their projects, processes and people, using the data gathered to lower risk and improve margins.

article thumbnail

Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. The rate of retention is stipulated in the construction contract and can often be negotiated.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Traditional Facilities Construction Cost Management Failure – Repair, Reno, Maintenance, and New Builds

Job Order Contracting

Traditional construction cost management remains problematic for most real property owners. Traditional Construction Cost Management Failure. The recently published survey of 243 owners (122 public, 121 private), 240 general contractors and 241 specialty trade. Quantitative performance metrics. Regular third-party audits.

article thumbnail

HR, Finance and Accounting Professionals: Learn How to Work Smarter Not Harder at Collaborate 2018

Viewpoint Construction Technology

HR, Finance and Accounting Professionals: Learn How to Work Smarter Not Harder at Collaborate 2018. In the construction industry, no two days are ever alike. In the back office, accounting and HR teams are the workhorses that get these tasks done day in and day out. Tax Planning Strategies for Construction Contractors.

article thumbnail

#134:  30-Day Accountings for Subcontractor/Supplier Mechanic’s Liens

NH Construction Law

” The notices triggering this accounting requirement can be given to the owner before the first labor or materials get furnished ( RSA 447:5 and RSA 447:7 ) or after ( RSA 447:6 ) – but in either event, written monthly updates of the amount owed are required. Standard Construction Co. , Bostwick , 69 N.H. McGranahan v.

Lien 40
article thumbnail

New collaborative framework expected for School Rebuilding Programme

Construction Law

The Department for Education (DoE) is to launch a new collaborative contractor framework to speed up delivery of projects under its flagship School Rebuilding Programme. To read more of this and every other news story on this site, please log in with your Construction Law membership account details.

article thumbnail

The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

It is time for contractors to get serious about the new accounting lease standard. It is time for contractors to get serious about the FASB ASU 2016?02 02 ASC 842 Leases, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). Determine how to account for each lease.

Leases 177