Remove ABC Remove Cash Flow Remove Construction Remove Profitability
article thumbnail

How Inventory Control Saves Construction Teams Resources

Construction Business Owner

How Inventory Control Saves Construction Teams Resources. Practicing inventory control helps your construction team save time & money while keeping you organized. All sorts of businesses rely on inventory to provide goods and services to their customers, but when it comes to construction, supplies and materials are truly essential.

Inventory 226
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. The rate of retention is stipulated in the construction contract and can often be negotiated. It can significantly impact the financial standing of contractors, especially when working on projects with a small profit margin.

professionals

Sign Up for our Newsletter

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

article thumbnail

Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

Construction is a risky business, with among the highest rates of failure of any industry. Some GCs pass the cost of the loss reserve onto the project owner and claim that amount as additional profit on the project. To replace the original subcontractor, ABC Builders hires Water Works to finish the project at a cost of $1.2

article thumbnail

The Small Business Guide to Construction Management Software

Autodesk Construction Cloud

There are many advantages to being a small construction firm. Like most SMBs, small-scale construction companies run on fewer resources. Their teams and budgets are leaner, so every investment must be carefully considered—particularly when it comes to tools like construction management software. . Let’s get started. .

Software 105