Last updated: Jul 16, 2021
Published: Jul 02, 2018
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...
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 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...
How to Protect Your Payments When Dealing with a Construction Bankruptcy
Bankruptcies in the construction industry are unfortunately very common. Learn how a mechanics lien can help make sure your company...
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,...
Construction Contracts: What Does “Workmanlike Manner” Mean?
Just about every construction contract will require that work be done in a "workmanlike manner." But what exactly does that...
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...
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...