Last updated: May 21, 2020
Published: Nov 29, 2017
Reading time: < 1
Recommended for you
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.
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 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 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...
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 are the Certified Payroll Requirements for Federal Construction Jobs?
What does Certified Payroll mean? This post covers the certified payroll requirements for contractors working on federal construction projects.
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...