Answers to the accounting and project management questions contractors run into every day—job costing, retainage, change orders, submittals, RFIs, business structure, and more.
One of the first and most critical decisions that any new business will make when starting out is what type of structure to adopt. Whether…
Are you looking for the right construction software to help your business run more efficiently? With so many options available on the market, it can…
In construction projects, retainage refers to the portion of payments that project owners or general contractors temporarily withhold from contractors or subcontractors. Sometimes referred to…
Labor burden refers to the total cost a business incurs to employ someone beyond their base wages or salary. These indirect expenses—including taxes, insurance, benefits,…
In construction, job costing is the process of tracking and accumulating project-specific expenses—such as materials, labor, equipment, subcontractors, and allocated overhead. As one of the…
Preconstruction is the preliminary planning phase of a construction project where owners and architects—often in collaboration with a contractor—define the project’s scope, budget, and schedule…
In construction, a submittal is a document, sample, or piece of information used to confirm the details and technical requirements of a project. Subcontractors usually…
A punch list, sometimes called a snag list, is a document created in the final stages of a construction project to provide a list of…
In construction, RFI is an abbreviation for Request for Information. It refers to a solicitation of details or additional information about an aspect of the…
Handling out-of-scope work without a clear process often leads to payment disputes and tension with clients. A change order connects the original contract to what…
A General Contractor (GC) is the entity—whether an individual professional or a large construction firm—responsible for the day-to-day oversight of a construction site, the management…
Introduction to Construction Accounting Successful construction companies use a different accounting approach than other businesses. In many industries, companies focus on a single business location…
Cost codes in construction are structured numerical identifiers used to categorize project expenses. They help contractors track costs for specific tasks (like electrical, earthwork, or…
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