article thumbnail

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 can be withheld on residential or commercial projects and on both public and private projects.

article thumbnail

Hill Group counts on partnership housing to drive growth

Construction Enquirer

Hill’s accounts show a £315m land bank of over 12,300 homes, representing £4.6bn of future income, and a balance sheet of £322m together with net cash of £132m. Last year Hill Group delivered 2,203 new homes and continued to enhance its development pipeline, which now comprises around 8,500 homes.

Housing 79
professionals

Sign Up for our Newsletter

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

article thumbnail

#130:  Secured Lenders' Rights to Construction Contract Payments

NH Construction Law

Can the recipient of the notice – in legal parlance, an “account debtor” – ignore the lender’s demand and continue to pay his contractor or subcontractor? Any subsequent square-up was between lender and borrower, and not the account debtor’s concern. Not unless he is prepared to pay twice!

article thumbnail

Bookkeeper Vs. Accountant Vs. C.P.A. For Your Construction Company

Contractor Bookkeeping

Each Branch Of Accounting serves a different function similar to how it works in construction. Further up the skillset and money chain is the person who can turn expensive pieces of hardwood into a masterpiece of woodwork inside a multi-million dollar home or commercial space. Three Accounting Skillsets = Three Types Of People.

article thumbnail

Demystifying carbon offsets vs direct reductions

BD+C

Some credits score high in quality for being permanent and delivering positive environmental and social impacts, for instance, the installation of solar panels for low-income, elderly communities on fixed incomes. There is no such return on investment for carbon offset purchases.

article thumbnail

Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

QuickBooks Premier Accountant 2000 And Up. If your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly you are riding high and living well! The Chart of Accounts is the foundation and if your Chart of Accounts is not setup right you will not have anywhere to put the transactions.

article thumbnail

Passing Marks: Transferring Safer School Design to Other Applications

BD+C

While schools (K–12) and institutes of higher education account for a large portion of these incidents, businesses open to pedestrian traffic saw approximately one-third of the active shooter events included in the report. Further, they can make it difficult for first responders to quickly access rooms in an emergency.

Design 92