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

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

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Accounting for Retention Receivable & Payable: A Contractor’s Guide
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Accounting for Retention Receivable & Payable: A Contractor’s Guide
Accounting for Retention Receivable & Payable: A Contractor’s Guide
Accounting for Retention Receivable & Payable: A Contractor’s Guide
Accounting for Retention Receivable & Payable: A Contractor’s Guide
levelset levelset | 1 year ago
Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Tracking these amounts ensures that everyone gets paid the money they are due when the project is completed. Read on to see how to record retention receivable and pay...
Construction projects rely on contractors completing the work they started and meeting the design intent. In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Tracking these amounts ensures that everyone gets paid the money they are due when the project is completed. Read on to see how to record retention receivable and pay...
A Plumbing Contractor’s Guide to Insurance Coverage
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levelset levelset | 1 year ago
Plumbing contractors should include business insurance as an integral part of their financial strategy. When you tackle the jobs you’ve secured, it’s also important to plan for the unexpected.  With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. Obtaining an insurance policy […] The post A Plumbing Contractor’s Guide to Insurance Coverage appeared first on Levelset.
Plumbing contractors should include business insurance as an integral part of their financial strategy. When you tackle the jobs you’ve secured, it’s also important to plan for the unexpected.  With numerous policies available, the plumbing contractor’s insurance landscape offers many ways for you to protect your physical and financial business assets. Obtaining an insurance policy […] The post A Plumbing Contractor’s Guide to Insurance Coverage appeared first on Levelset.
Completed Operations: A Contractor’s Guide to Coverage, Cost, & More
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levelset levelset | 1 year ago
Who pays for damages caused by faulty work or materials? If a contractor’s work fails after a project is complete, completed operations insurance can help cover some of the expenses. It is sold as an extension to your general liability insurance policy and may be required by the state you work in or the project owner. In this article, we’ll explain how completed operations coverage works, and how it protects contractors and subcontractors. Learn more: The most common types of insurance poli...
Who pays for damages caused by faulty work or materials? If a contractor’s work fails after a project is complete, completed operations insurance can help cover some of the expenses. It is sold as an extension to your general liability insurance policy and may be required by the state you work in or the project owner. In this article, we’ll explain how completed operations coverage works, and how it protects contractors and subcontractors. Learn more: The most common types of insurance poli...
Property Management Accounting: A Simple Guide for Seattle Landlords
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acrespropertymanagement acrespropertymanagem... | 2 years ago
Seattle landlords have a lot to manage. There’s the leasing process and tenant screening and rent collection and maintenance. There are move-in and move-out inspections and compliance with the ever-changing rental laws and rules in Seattle and neighboring communities like Tacoma, Burien, Normandy Park, Des Moines, and Federal Way. In addition, landlords also need to […] The post Property Management Accounting: A Simple Guide for Seattle Landlords appeared first on Acres Property Management.
Seattle landlords have a lot to manage. There’s the leasing process and tenant screening and rent collection and maintenance. There are move-in and move-out inspections and compliance with the ever-changing rental laws and rules in Seattle and neighboring communities like Tacoma, Burien, Normandy Park, Des Moines, and Federal Way. In addition, landlords also need to […] The post Property Management Accounting: A Simple Guide for Seattle Landlords appeared first on Acres Property Management.
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mrisoftware mrisoftware | 1 year ago
Whether you’re running a business or managing a personal portfolio of properties, managing the books is a critical part of property management. Property management accounting has many similarities to general accounting. One of the key differences, however, is that while general accounting is usually done by accountants, property accounting often falls to property owners or property managers to do themselves. Luckily, with the right tools and adequate planning, property management accounting...
Whether you’re running a business or managing a personal portfolio of properties, managing the books is a critical part of property management. Property management accounting has many similarities to general accounting. One of the key differences, however, is that while general accounting is usually done by accountants, property accounting often falls to property owners or property managers to do themselves. Luckily, with the right tools and adequate planning, property management accounting...
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autodesk autodesk | 2 years ago
Construction accounting software is a must-have, but may seem daunting to implement new solutions if your accounting technology hasn’t kept up with the complexities of your growing business. Managing the myriad of accounting activities across an entire construction business, or at any phase of an individual project, you’re going to want access to the most […] The post A Practical Guide to Construction Accounting Software appeared first on Digital Builder.
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levelset levelset | 2 years ago
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 a homeowner’s insurance policy – and […] The post A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered? appeared first on Levelset.
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 a homeowner’s insurance policy – and […] The post A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered? appeared first on Levelset.
A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?
A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?
A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?
A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered?
levelset levelset | 2 years ago
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 a homeowner’s insurance policy – and […] The post A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered? appeared first on Levelset.
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 a homeowner’s insurance policy – and […] The post A Contractor’s Guide to Homeowner’s Insurance: Is Your Project Covered? appeared first on Levelset.
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mrisoftware mrisoftware | 2 years ago
Top energy management tips for multi-site organizations For organizations that operate multiple commercial buildings, getting a top-level view of performance group-wide is fundamental and conducive to the success of any energy reduction strategy. Of course, enterprise-wide visibility is a challenge for many organizations across the globe – often because of different commercial buildings using different tools or software to measure energy performance and consumption or use inconsistent...
Top energy management tips for multi-site organizations For organizations that operate multiple commercial buildings, getting a top-level view of performance group-wide is fundamental and conducive to the success of any energy reduction strategy. Of course, enterprise-wide visibility is a challenge for many organizations across the globe – often because of different commercial buildings using different tools or software to measure energy performance and consumption or use inconsistent...
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mrisoftware mrisoftware | 2 years ago
The real estate industry is constantly evolving, and with technology advancing at a rapid pace, it is imperative for companies to adapt and streamline their processes. One such process that can benefit greatly from automation is Accounts Payable (AP). The manual process of managing invoices and payments can be time-consuming and prone to errors, leading to late payments, lost documents, and missed discounts. Automated Accounts Payable (AP) can help real estate companies streamline their payment ...
The real estate industry is constantly evolving, and with technology advancing at a rapid pace, it is imperative for companies to adapt and streamline their processes. One such process that can benefit greatly from automation is Accounts Payable (AP). The manual process of managing invoices and payments can be time-consuming and prone to errors, leading to late payments, lost documents, and missed discounts. Automated Accounts Payable (AP) can help real estate companies streamline their payment ...