article thumbnail

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

Levelset

The rate of retention is stipulated in the construction contract and can often be negotiated. 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.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. Tip #1: Negotiate Fuel Costs. Before you go down the negotiating path, be sure you know your overall consumption by gallons. 3 Responses to “3 Tips for Better Construction Fleet Fuel Management” Petroleum Distribution Management Software Says: December 22nd, 2011 at 8:03 am.

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 Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. Many contractors negotiate payment due dates with their vendors to get themselves out of short-term cash binds. Is There No Free Lunch or Construction Software? Top 5 Trends in Construction Software. Public Exposure and Liability on Construction Sites. accounting software.

Banking 120
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

SOFTWARE |. Software & Technology. – will ultimately determine if you are on the bid list or in the negotiating room for the next project. Is There No Free Lunch or Construction Software? Top 5 Trends in Construction Software. Public Exposure and Liability on Construction Sites. accounting software.

article thumbnail

Construction Estimating Checklist: A New Era of Estimating Service

Construction Cost Estimating

it is not possible to get the help of expensive software for fancy estimate proposals. This gives the client some wiggle room to negotiate bringing you back down to where you would have estimated the job to cost but giving the client a feeling of win/win negotiations. Estimating and Costing in Civil Engineering Software.

article thumbnail

We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. You can develop your own estimating and pricing process or use a software estimating program like UDA. Lessons You Will Learn.

article thumbnail

Winning More Construction Bids: A Complete Guide

Autodesk Construction Cloud

Contract negotiation and formation. Once the owner selects a bid, they’ll move on to the contract negotiation and formation stage. Integrated Project Delivery (IPD) emphasizes teamwork and shared liability. How to prove the value of investing in bidding software to leadership. How to Perfect Your Construction Bid.

Bidding 52