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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. These holdbacks need to be accounted for by every party to a project: owner, general contractor, and subcontractor. Retention receivable and payable is different from accounts receivable and payable. View profile.

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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights.

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constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

Only a knowledgeable attorney can apply the information here to your particular matter, taking into account the laws of your jurisdiction. Subcontractors Mechanics lien allowed where bank seized generals funds. 107108 (May 21, 2009), has ruled in favor of the subcontractor in enforcing a mechanics lien. University of St.

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constructionattorneyblog: Waivers of liens: fraud

Construction Lawyer

Only a knowledgeable attorney can apply the information here to your particular matter, taking into account the laws of your jurisdiction. Waivers of liens: fraud. Listed below are links to weblogs that reference Waivers of liens: fraud : Recent Posts. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.

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Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

Only a knowledgeable attorney can apply the information here to your particular matter, taking into account the laws of your jurisdiction. Idle Equipment not entitled to Lien in Missouri. April 20, 2009 in litigation , mechanics liens | Permalink. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.

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5 Ways to Improve Cash Flow in Your Construction Business

Levelset

Establish consistent accounting procedures. Measuring what money comes in (accounts receivable) and what goes out (accounts payable) is key to ensuring healthy cash flow. Creating consistent accounting procedures is key to knowing how much money you have going out and coming into your business. Protect your lien rights.

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Watch for Bank Shield Laws in Dealing with Lenders

Construction Lawyer

Only a knowledgeable attorney can apply the information here to your particular matter, taking into account the laws of your jurisdiction. Watch for Bank Shield Laws in Dealing with Lenders. A developer found out the hard way about laws that shield banks. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY.

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