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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

It can significantly impact the financial standing of contractors, especially when working on projects with a small profit margin. 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. Fariba Mehdian.

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Building your case beforehand can certainly help and makes you look better in the eyes of the bank. Banks are attracted to profitable business.

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. Apps and Web-based Software: A Tale of Two Trends » Cloud Computing: Is My Data Safe? At Dexter + Chaney’s 2011 Users’ Conference, we announced that we were moving to a completely web-based platform for our construction software. Is There No Free Lunch or Construction Software?

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. « Support: One of the Most Important “Features” of Software. Change orders can be harder to manage – and present more of a profitability challenge – than pre-planned project work. STRATEGY |. MANAGEMENT |. ACCOUNTING |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management.

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. Mr. Rattner discussed the stress tests given by the Treasury Department to large banks that were receiving TARP funds. What would you do next week if you lost that job you had been banking on? Is There No Free Lunch or Construction Software? Top 5 Trends in Construction Software.

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Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. One of the main things BIM software is currently used for is clash detection. Does an electrical raceway run through a duct bank? Is There No Free Lunch or Construction Software? Top 5 Trends in Construction Software. Public Exposure and Liability on Construction Sites.

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QuickBooks Online Converted To QuickBooks Contractors Desktop Online

Contractor Bookkeeping

QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales. Highly Skilled Technicians Maintain The Software. Profit & Loss statement anytime YOU want it!