Last updated: Jul 16, 2021
Published: Nov 29, 2017
Reading time: < 1
Recommended for you
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...
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...
Do I Have to Sign a Lien Waiver to Get Paid?
Lien waivers are an important part of optimizing construction payment. Property owners and GCs rely on waivers to manage the...
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...
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...
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...
Construction Punch Lists Explained
Punch list work might seem minor, but it has an improportionate impact on payment. Without getting punch work out of...