Recommended for you
What Is Underbilling? | Construction Industry Accounting
Underbilling occurs when a contractor does not bill for all the labor and materials delivered in a billing cycle. It...
What Is A Joint Check Agreement?
While joint checks and joint check agreements are common in the construction business, these agreements can actually be entered into...
The Ultimate Guide to Retainage in the Construction Industry
The practice of retainage, aka retention, has a tremendous impact on the construction industry. Learn how retainage works on different...
6 Construction Project Delivery Methods Compared
The steps required in a project’s journey to completion are importation to how successful the project will be. That’s why...
Guide to Alternative Dispute Resolution (ADR) in Construction
With a proper dispute resolution clause in place, contractors, subs, and suppliers can avoid taking their disputes into litigation.
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 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...
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...