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How Labor Shortages & Virtual Work Are Changing Purchase-to-Pay Processes

Construction Business Owner

CDT As a result of economic and cultural trends, construction organizations today are increasingly relying on technologies that increase efficiency — especially in accounting departments. Promote to rotator No Rotator Image Status of webinar Featured Thu, 06/22/2023 - 12:00 1 p.m.

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5 Challenges in Meeting Construction Deadlines and How To Solve Them

Construction Marketing

Limited owner insights – the stakeholders in most construction projects are surprisingly left in the dark on the progress of many projects, waiting around for periodic updates from construction managers to keep them apprised of the job status. A lien waiver is a fancy word used in the construction industry for receipt of payment.

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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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Levelset and American Express Team Up to Empower the Construction Industry

Levelset

Levelset is excited to team up with American Express to provide our trusted lien rights management tools to eligible merchants who accept American Express [at a discount]. Our solutions are designed to simplify and streamline the lien management process, providing unparalleled support and efficiency.

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Managing Accounts Receivable in QB: QuickBooks for Contractors

Levelset

As a result, every construction business records transactions to Accounts Receivable (A/R) until they actually receive payment. If your company uses QuickBooks – one of the most popular entry-level accounting platforms for contractors – you already have built-in tools that can help you manage, track, and report on their accounts receivable.

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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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Preliminary Notice and Mechanics Lien Compliance: How?

Construction Law Monitor

Offsetting these complexities are state laws that provide subcontractors and suppliers with “mechanics lien” rights. These rights have existed in the United States since Thomas Jefferson introduced the first lien legislation more than 220 years ago. 1) Dedicate Your Company To Mechanics Lien Compliance.

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