Last updated: Jul 16, 2021
Published: Nov 29, 2017
Reading time: < 1
Recommended for you
Construction Contracts: Pros and Cons of a Cost-Plus Contract
What is a cost-plus contract and how is it used in the construction industry? This type of contract is also...
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 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 Notice of Completion?
What is a Notice of Completion? As anyone reading this surely knows, the construction industry loves its documents! There's a...
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 Joint Check Agreement?
While joint checks and joint check agreements are common in the construction business, these agreements can actually be entered into...
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 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.