Get help with everything you need to know about construction payments.
Undertaking a large construction project is exciting, but it can also be overwhelming. Instead of looking at the project as one big job, it’s possible to break almost every project...
Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. Owners will say that focusing...
In early February 2022, President Biden signed an executive order requiring project labor agreements (PLAs) on all federal projects over $35 million. This means contractors working on eligible projects should...
In Minnesota, prevailing wage laws apply to state-funded projects over $2,500 with one trade or over $25,000 with more than one trade. There are separate rates for highway/heavy construction and...
To take a project from an idea to a finished building, construction goes through several phases. Each phase has its purpose and is just as important as the next. The...
On construction projects where prevailing wage laws apply, it’s important to abide by those rules. In Pennsylvania, publicly funded projects over $25,000 in costs are subject to prevailing wage requirements....
There are a lot of things that are different about construction accounting, but retainage may be one of the most unique. These amounts withheld from project payments can be a...
Whenever you invoice a property owner, receive a check from a customer, or pay a material supplier, you need to categorize those transactions properly. The Chart of Accounts is the...
The construction industry runs on credit. Contracts are almost never paid up front, so contractors provide labor, materials, and equipment on credit with their customers. As a result, every construction...
Before a construction project can begin, there is a lot of planning, number-crunching, designing, and scheduling that needs to occur. The bulk of all project planning occurs during the preconstruction...
Subscribe form