Remove Debt Remove Insurance Remove Materials Remove Security
article thumbnail

What You Should Know Before Taking a Construction Loan

Construction Marketing

It covers land acquisition costs, building materials, construction permits, labor, contingency and interest reserves, closing costs, and plans. The construction loan approval process is usually very rigorous, since the loan isn’t secured and doesn’t involve collateral.

article thumbnail

4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

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. Next, subtract the sum of your accounts payable, short-term debts owed, and over-billings. Get materials now, keep your cash. Scope of work compared with past projects.

Risk 52
professionals

Sign Up for our Newsletter

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

article thumbnail

Construction Bookkeeping Unique Features

Contractor Bookkeeping

Chart of Accounts Bad Debts. Chart of Accounts Bad Debts. Chart of Accounts Insurance Health And Dental. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Health And Dental. Security Deposits Tracking.

article thumbnail

Contractor's Secretary Does Everything Including Bookkeeping!

Contractor Bookkeeping

Some Contractors Hire Part Time Secretaries to do everything including construction bookkeeping and then wonder why their company debts keep growing and crushing them. Process payroll and include reimbursements, health insurance, loans and garnishments. Enter purchases of material, supplies, equipment rental, tools and other items.

article thumbnail

Tax Reform Impact on Employers and Employees

Revit OpEd

The transition rule does not apply once (1) there is a material modification to the terms of the contract, (2) the contract is renewed, or (3) the contract becomes terminable or cancelable unconditionally at will by either party to the contract without the consent of the other or by both parties.

article thumbnail

What Is Building Valuation | Purposes of Building Valuation | Building Valuation Methods

CivilJungle

Some of these things are the type of material and the quality of used contents like cement, concrete, and rods, in making the building. Loan security before taking a loan or mortgage – A mortgage is the security of a loan that is done based on the valuation of a building. Purposes of Building Valuation.

Income 52
article thumbnail

Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Chart of Accounts Bad Debts. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Health And Dental. Item List Construction Material Costs. Insurance Audit Reporting. Security Deposits Tracking.