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7 Things Contractors Need to Know About Retainage

Fieldwire

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. Retainage can cause a cash flow burden for contractors, especially subs at the bottom of the payment chain.

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Transforming Construction Payments: Autodesk's Strategic Move with Payapps Acquisition 

Autodesk Construction Cloud

A strong financial base in construction is as vital for success as a solid physical foundation is for any building project. Despite this, both general contractors and subcontractors struggle with the complexities of the payment process and face significant cash flow obstacles. Known as Payapps in Australia, New Zealand, the U.K.,

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What is Retainage in Construction?

Lets Build

Almost every construction professional faces the same problem – cash flow. Large upfront costs and long waiting periods between payments are a normal occurrence; retainage adds to this cash flow problem for contractors and project managers. Retainage and mechanic’s liens.

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Construction Company Failure Root Causes

Contractor Bookkeeping

Education is the foundation for shifting paradigm. Cash flow issues kill contractors even though they have profit. Sales tax liens against contractors twenty two times higher than any other business. Sales tax liens against contractors twenty two times higher than any other business.

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How to Start a Plumbing Business: 9 Tips for Growth

Levelset

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. Keep the cash flowing through your financial pipes. Here’s a little-known fact about growing a plumbing business: It can be incredibly cash-hungry. Review your cash flow regularly.

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Process Dependent Vs. People Dependent Increases Contractor's Profits

Contractor Bookkeeping

Education is the foundation for shifting paradigm. Cash flow issues kill contractors even though they have profit. Sales tax liens against contractors twenty two times higher than any other business. Sales tax liens against contractors twenty two times higher than any other business.

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Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. Payment Terms - Should need to add positive cash flow.