Levelset

JUNE 6, 2022

Retention can be withheld on residential or commercial projects and on both public and private projects. ABC Contractor is billing a project owner for $100,000 with 10% retention. When the $90,000 is paid, it is posted with a debit to the bank or cash account and a credit to accounts receivable, clearing the account for that project.

Accounting 98

Accounting ABC Banking Liability 98

Levelset

FEBRUARY 3, 2023

Managing cash flow in the construction industry is difficult in any economy, but during a recession, specialty contractors face even more financial challenges than usual. One of the most significant challenges during that time was the lack of financing for commercial construction companies. There’s plenty of work to go around!

Finance 52

Finance Cash Flow Materials Security 52

Autodesk Construction Cloud

JULY 7, 2022

The Associated Builders and Contractors (ABC) estimates the construction sector would need to bring in nearly 650,000 additional workers in 2022 to meet labor demands. As Anirban Basu, ABC Chief Economist said in a statement, “The workforce shortage is the most acute challenge facing the construction industry despite sluggish spending growth.

Software 105

Software Software Management Construction 105