article thumbnail

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

Levelset

Both retention accounts are shown as current assets and current liabilities, respectively. According to Mehdian, a lot of contractors don’t record retention receivable or payable, especially those using Quickbooks accounting software. Plus, not recording retention payable leads to the understating of a company’s liabilities.

article thumbnail

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.

Banking 120
professionals

Sign Up for our Newsletter

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

article thumbnail

Is Your Construction Team Prepared for Cyber Risks?

Pro Builder

In the email, a cybercriminal, posing as a business contact, would indicate an urgent matter that requires an employee to transfer funds to an altered bank account. Ensure your anti-virus software is updated. . The account would then divert funds to the criminal instead. . Proactive Safety Measures for Cyberattacks.

Risk 92
article thumbnail

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?

Security 120
article thumbnail

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.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. » Apps and Web-based Software: A Tale of Two Trends. It’s shorthand for “application,” but do they really belong in the category of products we call software applications? I like to think of apps as “software-light.” For example, I have a mobile banking app on my smartphone.

Software 120
article thumbnail

constructionattorneyblog: LEED project managment software

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. « Subcontractors Mechanics lien allowed where bank seized generals funds | Main. LEED project managment software. While there are many legal issues that will unfold in the near future, there are new software products that address some of the management issues.