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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. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor.

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Construction quality management: Everything you need to know

Lets Build

It involves taking a quality-focused, hands-on approach to all stages and aspects of design, construction, and client relations. Issues may arise around ownership and accountability, roles and responsibilities, tools and materials. What is construction quality management?

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Relationship between the designer and the contractor

Construction Business Owner

ACCOUNTING |. Accounting & Finance. » Relationship between the designer and the contractor. One part of our industry that I simply cannot get my head around is the oftentimes adversarial relationship that exists between the building design professionals and the building contractors on a particular job. STRATEGY |.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Considering New Accounting Software? The Best Time to Go Live is… » Why Construction-Specific Accounting Software Costs More than Generic Accounting Software. I was doing some research on construction accounting softwares and came across your entry. STRATEGY |.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. « Considering New Accounting Software? Section 179 was designed to provide an attractive tax savings on these purchases. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. NEWSFLASH: In the exciting world of construction accounting software, the inmates are in control. Chaos reigns and some very ugly accounting software systems have infected the back offices of construction companies nationwide! When designing FOUNDATION® for Windows® 3.0

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. At Foundation Software, we try to avoid inmate takeovers by first assigning a lead analyst to oversee design for each project. We then provide a design methodology to follow. Design considerations are not relevant at this stage. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |.