article thumbnail

5 Ways to Improve Cash Flow in Your Construction Business

Levelset

In the construction industry, starting a new project means encountering automatic, upfront costs. How individual specialty contractors handle these costs vary, but as the saying goes, “Cash is king.” From buying materials to hiring crews, business begins when cash flows. Protect your lien rights.

article thumbnail

A Cash Flow Guide for Architects

Levelset

Running an architectural firm is a bit different than other companies in the construction industry. However, like any other business, you need to maintain positive cash flow or you may find yourself unable to pay your workers and other expenses. Cash flow basics. Cash flow projections.

professionals

Sign Up for our Newsletter

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

article thumbnail

7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The industry’s retainage practices throw another wrinkle into the process. In some cases, states do make specific exceptions for retainage liens.

article thumbnail

4 Key Habits of Large, Successful Contractors

Levelset

Levelset’s recent 2022 Cash Flow & Payment Report revealed some key differences between large, successful contractors and smaller construction businesses. Of course, not every small business wants to become a construction industry powerhouse — but everyone wants to get paid for their work.

Lien 98
article thumbnail

Construction Payment Speed: Winners and Losers

Levelset

While problems with slow payments reverberate throughout the construction industry, the truth is that some companies, roles, and project types are much more likely to get paid on time than others. Read more: How to Manage Cash Flow in Construction. Find more success with payment speed. Protect & speed up every payment.

article thumbnail

Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

Despite this, both general contractors and subcontractors struggle with the complexities of the payment process and face significant cash flow obstacles. Time and time again, I hear about contractors’ frustrations and struggles with late payments and cash flow and how it negatively impacts their businesses.

article thumbnail

Managing Accounts Receivable in QB: QuickBooks for Contractors

Levelset

The construction industry runs on credit. Slow payments are a chronic problem in the building industry, and payment delays can quickly escalate into cash flow problems. QuickBooks A/R reports show you a snapshot in time, and can help you identify problem customers that are causing cash flow problems for your company.