Banking Income Lien 
Levelset
MARCH 21, 2022
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.
Levelset
JUNE 6, 2022
The invoice is recorded in the chart of accounts with a credit to the income account for $100,000, a debit of $90,000 to accounts receivable, and a debit of $10,000 to retention receivable. Debit Credit Income $100,000 Accounts receivable $90,000 Retention receivable $10,000. Debit Credit Bank or cash $45,000 Accounts payable $45,000.
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Levelset
APRIL 5, 2022
In this article, we’ll explore some strategies to help you keep money in the bank. Without incoming revenue to cover those costs, you’ll have to overbill another project to cover them. Last but not least, establish and follow your company’s mechanics lien policy. This policy lets you know when to send notices and file a lien.
Contractor Bookkeeping
OCTOBER 4, 2013
Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news they are on the banks payroll. How can you and the bank help me run my business more profitably? 3 Your Income Tax Return Preparer.
Buisness Facilities Contributed Content
JULY 11, 2014
Loans are made by the Bank of North Dakota and are guaranteed by the Export-Import Bank of the United States utilizing their medium-term credits program. The Bank of North Dakota (BND) provides some of the lowest interest rates in the nation through this program. Community financial institutions may participate in the loans.
Buisness Facilities Contributed Content
MARCH 8, 2016
Agriculture Partnership in Assisting Community Expansion (Ag PACE): This program has been established to buy down the interest rate on loans to farmers who are investing in other nontraditional agriculture activities to supplement farm income. The total buy down amount per borrower may not exceed $20,000 per project or biennium.
NH Construction Law
OCTOBER 22, 2023
It happens this way: A contractor or subcontractor borrows money from a lender, and as security for the loan it gives the lender an assignment of or lien on its receivables and contract rights. Reading Cooperative Bank v. Suffolk Construction Co. , 543, 553, 984 N.E.2d
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