Levelset

APRIL 8, 2022

Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding homeowner insurance policies. Insuring agreement.

Insurance 52

Insurance Claims Agreement Lien 52

Construction Enquirer

JULY 6, 2023

Grenfell contractor Rydon has revealed a provision of £26.7m Rydon said its settlement is being covered by its insurers. In latest published accounts to September 2022, Rydon Group Holdings revealed a pre-tax profit of £6.1m Rydon Homes was the main profit driver left in the group generating a pre-tax profit of £11m up from £3.7m

Claims 131

Claims Profitability Maine Insurance 131

Levelset

APRIL 8, 2022

Restoration contractors often work on a property after damage from a storm, fire, or other natural disaster. On projects like this, property owners typically count on an insurance claim to pay for the work – they may not have cash on hand to pay you out of pocket. Understanding homeowner insurance policies. Insuring agreement.

Insurance 52

Insurance Claims Agreement Lien 52

Autodesk Construction Cloud

JULY 13, 2023

.” This quote primarily relates to personal finance, but his advice also rings true in the construction industry. While bringing in large projects and generating revenue is essential, it’s equally important to manage profit effectively and ensure healthy margins. Have a look below. It does matter.

Profitability 98

Profitability Risk Construction Autodesk 98

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. The basics of retainage Retainage, also called retention, is an amount withheld from the contractor until a later date.

Contractors 98

Contractors Cash Flow Lien Negotiation 98

cnstrctr

OCTOBER 17, 2018

Construction is a cut-throat industry, and making your construction business more profitable can be a challenge. Making more money isn’t rocket science, by following our five tips you’ll be increasing your profits in no time! Enhance Your Services To Help Making Your Construction Business More Profitable.

Profitability 60

Profitability Change Orders Construction Schedule 60

Autodesk Construction Cloud

SEPTEMBER 13, 2022

But in construction, with razor-thin margins, the stakes are significantly higher and there is little room for the unexpected. Contractors are focused on executing efficiently and safety, while winning new business and staying profitable. . As with every industry, everything ultimately boils down to the bottom line.

Autodesk 105

Autodesk Risk Industrial Construction 105

Levelset

APRIL 15, 2022

When a property owner files an insurance claim to cover a restoration or roofing project, the owner typically deals directly with the insurance company. They may not have the funds available to pay the contractor out of pocket, so they’re counting on that insurance check to cover the construction costs.

Insurance 52

Insurance Contractors Lien Claims 52

Autodesk Construction Cloud

DECEMBER 12, 2021

Why Construction Teams Should Be Tracking Way More Than Financials. In fact, 43% of construction firms prioritize immediate financial goals over organizational resilience. Below, let’s discuss the importance of construction KPIs and critical metrics your company should be measuring to affect profits and productivity.

Profitability 52

Profitability Products CFMA Construction 52

Construction Enquirer

JUNE 21, 2023

And the contractor vowed to go after “designers, fire engineers, supply chain and insurers” to reclaim a “substantial portion” of the £62m it has set aside for building safety and cladding retrofits. profit the year before. profit the year before. ” .

Safety 82

Safety Insurance Accounting Regulation 82

Construction Law Monitor

DECEMBER 27, 2012

Back in 2009 this blog reported on the very topic of Workers Compensation insurance, stating that 1 and 5 businesses are breaking workers compensation laws. In my everyday practice, I feel like the trend is still prevalent in the construction industry. Workers Compensation is codified in Louisiana under Revised Statute 23:1021 et seq.

Compensation 51

Compensation Insurance Louisiana Contractors 51

Viewpoint Construction Technology

JUNE 12, 2013

MCM is a CPA firm with a team of accountants dedicated to construction accounting. Construction markets remain competitive, so it comes as no surprise that construction companies have to be at the top of their game throughout a project. Missing the Mark on Profitability. Overlooking Your Indirect Costs. Science Meets Art.

Bidding 285

Bidding Profitability Construction Cash Flow 285

Autodesk Construction Cloud

NOVEMBER 6, 2023

21 New Integrations for Autodesk Construction Cloud Construction companies produce an immense amount of data every day; but are firms actually leveraging this goldmine of insights? Today, only 20% of construction firms identify as data leaders, with the remaining 80% reporting either beginner or emergent levels of data capabilities.

Autodesk 118

Autodesk BIM Visualization Construction 118

Construction Business Owner

OCTOBER 20, 2014

Design and construction services on projects are more integrated now than ever before. As construction and design firms are using BIM software and other resources to improve construction efficiency, that integration is only going to increase.

Liability 183

Liability Legal Design Insurance 183

Contractor Bookkeeping

JUNE 16, 2017

When starting out one of the first decisions to be made is “What Type Of Contractor Am I?” This decided during the process of the contractor talking to the Bonding Company, Insurance Company and The State Licensing Board who approves the company’s Contractors License. Are you most comfortable being a General Contractor?

Contractors 48

Contractors Profitability Remodeling Insurance 48

Autodesk Construction Cloud

JULY 13, 2023

This quote primarily relates to personal finance, but his advice also rings true in the construction industry. While bringing in large projects and generating revenue is essential, it's equally important to manage profit effectively and ensure healthy margins. Have a look below. You should also keep a laser focus on price.

Profitability 52

Profitability Risk Construction Autodesk 52

Contractor Bookkeeping

SEPTEMBER 29, 2017

I know this is not a statement that any contractor wants to hear about their bookkeeping. The Key work is done by you, or whoever assists you have the power to give information to outsiders about your Construction Company. General Liability Insurance Provider. You Have Ultimate Control On Who Has Or Receives.

Profitability 54

Profitability Contractors Compensation Liability 54

Levelset

APRIL 1, 2022

As a contractor or sub, you can expect to incur many costs during the course of a construction project. Materials, insurances, permits, payroll, and other typical costs are relatively simple to account for. However, there is one very expensive cost that isn’t so cut and dry: construction site theft. Insurance claims.

Site 52

Site Cash Flow Insurance Construction 52

Job Order Contracting

JANUARY 25, 2018

The construction cost data shown is not be applied to specific requirements, but rather intended as a general overview. Detailed line item construction cost data should be used for the preparation of actual construction project costs in concert with an experienced construction estimator and knowledge of local conditions.

Commercial 100

Commercial Construction Commissioning Permits 100

Fieldwire

MARCH 5, 2024

To say that winning bids is the key to success in construction is a half-truth. Subcontractors getting awarded a contract spells financial disaster if the bid is too high to be competitive or too low to be profitable. However, trying to be a specialty contractor for everyone can backfire.

Budgeting 52

Budgeting Budget Estimating Bidding 52

Construction Business Owner

APRIL 5, 2012

INSURANCE |. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Green Construction & Construction Software » The Business of Construction Risk Management. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |.

Risk 120

Risk Insurance Construction Software 120

Job Order Contracting

FEBRUARY 24, 2018

Here’s a listing of what is typically included in a construction contractor’s Job Order Contract coefficient… Contractor’s overhead and profit. Subcontractors’ overhead and profit. Employee payroll taxes, insurance, and fringe benefits.

Overhead 100

Overhead Permits Insurance Contract 100

Contractor Bookkeeping

JUNE 12, 2013

Contractors That Do Not Earn Large Profits see contractors bookkeeping services as overhead which leads to the following profit drains: They get a cheap computer, tiny monitor, garbage printer, tiny desk and broken down chair that even the dog would not sit in and tell the bookkeeper this is all the company can afford.

Profitability 48

Profitability Contractors Accounting Estimating 48

ENR Construction

DECEMBER 17, 2020

In last delayed 2020 filing, contractor reported a revenue shortfall linked to COVID-19 but better-than-expected profit; new ruling impacts firm's $300M pollution coverage fight with insurer

Insurance 54

Insurance Profitability Contractors 54

Viewpoint Construction Technology

AUGUST 29, 2018

Capturing accurate equipment information is a challenge that many contractors face. For firms engaged in heavy construction work, maintaining a healthy equipment fleet is both vital for project success as well as being one of the largest capital expenses. So, how can contractors achieve optimal equipment management?

Equipment 149

Equipment Management Profitability Contractors 149

Viewpoint Construction Technology

JUNE 3, 2019

However, within the construction sector there are multiple aspects which require different approaches, meaning a one-size fits all approach is not appropriate. While the issues vary from one organisation to another , we’ve broken down the most common construction disputes into four main categories. This may work for them.

Risk 130

Risk Software Software Construction 130

Contractor Bookkeeping

AUGUST 27, 2014

QuickBooks For Contractors Setup. We Fix Bad QuickBooks For Contractors Setup Issues. Did someone setup QuickBooks by trying to follow the built in template inside QuickBooks and you figured out you cannot get any of the financial and job costing reports you need to operate and grow your construction company?

Contractors 89

Contractors Accounting Work in Progress Profitability 89

Construction Business Owner

SEPTEMBER 27, 2011

INSURANCE |. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Construction Business Owner Attends APWA 2011 Congress » Section 179, and what YOU need to know about it. A lot of contractors have asked me about Section 179.

Construction 180

Construction Software Software Accounting 180

Levelset

JUNE 29, 2022

To those on the jobsite day-to-day, it’s no surprise that construction consistently tops the list of the most dangerous industries in the US. But because of the inherent dangers on construction jobsites, contractors are under close scrutiny for compliance. OSHA standards for construction. Peter Lindborg. View profile.

OSHA 52

OSHA Inspections Construction Safety 52

Fieldwire

MARCH 16, 2022

As a construction professional, you work hard. Other benefits: Some associations provide financial benefits, such as discounts to car rentals, insurance, supplies and other items. General Interest Construction Associations. You probably don’t want to add any more activities to your busy schedule. Reasons to Join.

AIC 52

AIC Construction Organization ABC 52

Contractor Bookkeeping

AUGUST 1, 2012

Reviewing QuickBooks Profit And Loss Reports - From our construction accounting clients reminded me of something I learned in my own construction businesses a long time ago. Construction accounting financial reports can be like staring at a hill of beans if you don't know what you are looking at or why.

Profitability 54

Profitability Accounting Construction Overhead 54

Chianelli Estimating

AUGUST 6, 2020

Covid-19 and the Impact on Construction Estimating. Construction is resuming but the effects of COVID-19 has drastically altered the industry’s mode of operations forever. As construction workers make their way back to work whether it’s continuing a project left hanging or starting something new, realities must be faced.

Estimating 60

Estimating Residential Insurance Commercial 60

Construction Business Owner

APRIL 1, 2011

INSURANCE |. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Healthy Competition » Free Webinar on Reducing Profit Fade. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs.

Cash Flow 120

Cash Flow Construction Software Software 120

Construction Business Owner

JANUARY 18, 2012

INSURANCE |. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Mid-January is a time of reflection for many contractors. Querying different type of jobs in job costing to look at profitability by type. STRATEGY |. MANAGEMENT |.

Construction 168

Construction Software Software Accounting 168

Levelset

AUGUST 16, 2022

To grow a construction business, contractors often pursue larger projects. Some contractors watch as their gross profit margins decrease when they take on larger jobs. Here are some factors you should consider to increase your chances of success with a potential project and your ability to secure a construction bond.

Risk 52

Risk Cash Flow Construction Banking 52

Construction Business Owner

APRIL 26, 2012

INSURANCE |. Construction Law. Construction Safety. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. « Connecting in Construction. Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. STRATEGY |.

Change Orders 120

Change Orders Construction Profitability Software 120

Contractor Bookkeeping

OCTOBER 4, 2013

Starting Or Re-Starting A Construction Company Is Easy. Secret #01 Decide What You Want From Your Construction Company. Action Step - 01: On a peice of paper type and print or hand write a description of what you want from your construction company and put it into a three ring binder. If You Know Exactly What To Do.

Profitability 48

Profitability Construction Accounting Cash Flow 48