Levelset
FEBRUARY 11, 2022
As a result, every construction business records transactions to Accounts Receivable (A/R) until they actually receive payment. If your company uses QuickBooks – one of the most popular entry-level accounting platforms for contractors – you already have built-in tools that can help you manage, track, and report on their accounts receivable.
Levelset
JUNE 6, 2022
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 receivable and payable is different from accounts receivable and payable. View profile.
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Construction Business Owner
MAY 30, 2023
CDT As a result of economic and cultural trends, construction organizations today are increasingly relying on technologies that increase efficiency — especially in accounting departments. Promote to rotator No Rotator Image Status of webinar Featured Thu, 06/22/2023 - 12:00 1 p.m.
Levelset
MARCH 21, 2022
Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights.
Constructlaw
OCTOBER 20, 2022
A New York appellate court recently affirmed the dismissal of a subcontractor’s counterclaims for delay damages and for unpaid amounts because they were barred by the parties’ no-damage-for-delay provision and executed lien waivers, respectively. Pizzarotti LLC, a construction manager, sued its subcontractor, X-Treme Concrete, Inc.,
Construction Marketing
SEPTEMBER 9, 2021
Limited owner insights – the stakeholders in most construction projects are surprisingly left in the dark on the progress of many projects, waiting around for periodic updates from construction managers to keep them apprised of the job status. A lien waiver is a fancy word used in the construction industry for receipt of payment.
Fieldwire
AUGUST 14, 2023
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. For many construction businesses, the retainage payment accounts for their entire profit margin on the project.
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