Construction Payment Blog

No one wants to end the year with a backlog of overdue invoices, frantically calling customers to collect late payments, or reporting lost revenue in end-of-year financial reviews. But for...

The importance of accurate accounts payable and other accounting records in the construction business cannot be overstated. For most contractors, these costs drive their income. Managing accounts payables — ensuring...

Once a contract for construction is signed, there are typically only three ways to change the terms: change orders, construction change directives, and architect’s supplemental instructions. What are architect’s supplemental...

Mechanics liens are a powerful remedy to recover payment on construction projects: True. Mechanics liens guarantee that you’ll be paid: False. Even if you go through the entire lien process...

In some ways, subcontractors have it rough. Because the general contractor or another sub hires them, they’re rarely a thought in the project owner’s mind. Many of them have indispensable...

Cost of goods sold (COGS) makes up a substantial portion of construction contractors’ expenses. Most purchases are related to projects, either for labor or materials. Tracking these costs and keeping...

As the year comes to a close and you review your financials, you may realize that you have more outstanding invoices than you’d like. There are a number of reasons...

Contractors’ bank accounts spend most of a project playing catch-up, simply replacing money that the contractor already put out on the job. Slow or partial payments can crush cash flow....

Dry Patrol of Central Ohio, a company that provides water damage restoration and other emergency restoration services, prides themselves on putting customer relationships first.  “When people are going through trying...

Keeping up with mechanics lien deadlines is no easy task when you work on multiple projects. While it may seem overwhelming to stay on top of the different deadlines for...