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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Building your case beforehand can certainly help and makes you look better in the eyes of the bank. Crunch the numbers – Banks like proactive business owners.

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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

Construction contracts often require that each hired specialty contractor maintain a minimum level of insurance coverage, and a COI will reflect that status. If you’re bidding on contract work, you will likely need a COI per terms of a legal agreement. There are a few parties that might require a COI from your contracting business.

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

Levelset

The rate of retention is stipulated in the construction contract and can often be negotiated. Peterson , a construction finance educator and author, “The retention in the retention receivable account is not collectible yet because the contractor has not earned the right to receive it.” According to Steven J. Fariba Mehdian.

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Highly Profitable Small Contractors Use OPM For Working Capital Needs

Contractor Bookkeeping

Construction Companies - Need short term liquid working capital such as cash, lines of credit, loans, owner financing, credit cards, supplier accounts and other forms of money to conduct daily operations. Again we recommend you hire a good construction attorney and have that person write your contracts.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. Mr. Rattner discussed the stress tests given by the Treasury Department to large banks that were receiving TARP funds. What would you do next week if you lost that job you had been banking on? Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

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Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. For example, banks and other financial institutions put in stronger measures than many other industries. Public Exposure and Liability on Construction Sites. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management. Software & Technology. Construction Law.

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Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Go To Your Bank - And they offer you a line of credit. Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. Bank Accounts - Set up two bank accounts in your company name. You do all the work they get half the profits and you politely refuse. You say O.K.