Construction Cost Codes: Standard List & Free PDF Download
If you run a construction business by lumping expenses into broad categories like “materials” or “labor,” you will never know exactly where a project is…
Category Business Resources
Answers to the accounting and project management questions contractors run into every day—job costing, retainage, change orders, submittals, RFIs, business structure, and more.
What Is Job Costing in Construction Accounting?
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…
How to Track Construction Costs Using Standardized Cost Codes
Many growing contractors look at a positive bank balance and assume the business is healthy. In reality, you can have plenty of cash on hand…
What Is a General Contractor (GC)?
In both commercial and residential construction, the general contractor serves as the central command hub of the build. While the property owner provides the vision…
Contractor’s Guide to Choosing a Business Entity
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…
A Complete Guide to Construction Software Pricing
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…
What is Retainage in Construction?
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…
Understanding Labor Burden
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,…
What Is Preconstruction? A Complete Guide
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…
What Is A Submittal?
While architectural blueprints provide the overarching vision for a build, they rarely specify the exact manufacturer data, fabrication methods, or physical paint colors required for…
What Is a Construction Punch List?
In the construction industry, reaching the end of a build doesn’t mean the job is finished. Before a project can officially close out, the project…
What Is a Request for Information (RFI)?
Because modern construction projects involve complex webs of stakeholders, the RFI acts as the primary communication bridge between the job site and the design team.…
Construction Change Orders Explained: Definition, Process, & Best Practices
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…
Guide to Understanding Construction Accounting
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…