Last updated: Jul 16, 2021
Published: Nov 29, 2017
Reading time: < 1
Recommended for you
Construction Punch Lists Explained
Punch list work might seem minor, but it has an improportionate impact on payment. Without getting punch work out of...
Construction Contracts: What Does “Workmanlike Manner” Mean?
Just about every construction contract will require that work be done in a "workmanlike manner." But what exactly does that...
What Is a Notice of Completion?
What is a Notice of Completion? As anyone reading this surely knows, the construction industry loves its documents! There's a...
What Is a Construction Schedule of Values? [Free Template Download]
A Schedule of Values is an essential tool used in construction project accounting that represents a start-to-finish list of work...
What Does ‘Pay-When-Paid’ Mean?
In the construction business, everything comes down to the contract. And that's unfortunate because most of the people who make...
How to Protect Your Payments When Dealing with a Construction Bankruptcy
Bankruptcies in the construction industry are unfortunately very common. Learn how a mechanics lien can help make sure your company...
What Is a Work in Progress Schedule? | Construction Accounting
The Work In Progress (WIP) schedule is an accounting schedule that's a component of a company's balance sheet. It's calculated...
What Are “Back Charges” in Construction?
Back charges can be tricky if you're not careful! It's incredibly important to prioritize communication and documentation when back charges...