Levelset

JUNE 6, 2022

Both retention accounts are shown as current assets and current liabilities, respectively. Plus, not recording retention payable leads to the understating of a company’s liabilities. Managing slow payment cycles. Because retention is often held for a long period of time, it can create cash flow problems for contractors.

Accounting 98

Accounting ABC Banking Liability 98

Levelset

JUNE 16, 2022

When payment problems come up, contractors on public projects can’t turn to the mechanics lien for the solution — both the federal and state governments prohibit private companies from gaining interest in public property. New Jersey bond claim laws & liens on contract funds. Preliminary notice requirements.

New Jersey 52

New Jersey Lien Claims Contract 52

Levelset

AUGUST 16, 2022

Whenever you need to get construction bonds to perform work on a proposed project, your priority is to show the surety company how you plan to manage the particular risks and minimize the downside. It is also helpful to provide the surety with a cash flow projection for the project.

Risk 52

Risk Cash Flow Construction Banking 52

Contractor Bookkeeping

JUNE 20, 2014

The only thing you know is your old boss was a terrible business manager and anyone could do better than that. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. in done correctly.

Insurance 48

Insurance Construction Accounting Claims 48

Contractor Bookkeeping

JUNE 15, 2012

The only thing you know is your old boss was a terrible business manager and anyone could do better than that. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. in done correctly.

Contractors 48

Contractors Insurance Claims Lien 48

Contractor Bookkeeping

JANUARY 2, 2015

The only thing you know is your old boss was a terrible business manager and anyone could do better than that! General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims.

Construction 48

Construction Insurance Accounting Claims 48

Autodesk Construction Cloud

DECEMBER 18, 2021

Risk assessment is the fifth step and requires you to identify potential risks or liabilities that could arise in the future. Step six is to write up a final report outlining each of the previous steps for upper management. Your designers, accountants, and managers all need to play a role in the closeout process.

Change Orders 52

Change Orders Documentation Equipment Risk 52