Last updated: May 21, 2020
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...
What is Overbilling? | Construction Industry Accounting
Overbilling occurs when a contractor bills for contracted labor and materials prior to that work actually being completed. For example,...
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 Notice of Completion?
What is a Notice of Completion? As anyone reading this surely knows, the construction industry loves its documents! There's a...
Conditional vs. Unconditional Lien Waivers: The Difference & Why It Matters
Unconditional vs. conditional lien waivers: which type of lien waiver should you use on your construction projects and jobs? We...
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...
The Ultimate Guide to Lien Waivers in Construction
What are lien waivers in construction? This article is the ultimate guide for construction lien waivers including essential information and...
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...