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

Levelset

In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Retention receivable and payable is different from accounts receivable and payable. Steven Peterson.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. SOFTWARE |. Software & Technology. Accounting & Finance. Querying different type of jobs in job costing to look at profitability by type. If the answer is no, then now may be the time to start looking into new tools and software programs that can make your job—and your life—easier.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. SOFTWARE |. Software & Technology. Accounting & Finance. There’s a lot I could say here, but mostly, I just want to wish everyone a very Merry Christmas and a Happy New Year from everyone at Foundation Software. Is There No Free Lunch or Construction Software? Tags accounting.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. SOFTWARE |. Software & Technology. Accounting & Finance. « Considering New Accounting Software? Most of these contractors are considering an investment in equipment or software, and they want to know if it can actually help their construction business. Tags accounting.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. SOFTWARE |. Software & Technology. Accounting & Finance. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. STRATEGY |. MANAGEMENT |. MARKETING |.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. SOFTWARE |. Software & Technology. Accounting & Finance. Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. SOFTWARE |. Software & Technology. Accounting & Finance. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” STRATEGY |. MANAGEMENT |. MARKETING |. INSURANCE |. EQUIPMENT |.