Contractor Bookkeeping

JULY 22, 2022

The bank wants to get paid, and unlike the contractor who is embarrassed to call an old customer, the bank is very willing to call early and often for any outstanding payments due. Accounts Payable keeps track of the bills owed to a supplier or subcontractor. Again, the banker wants to know how long it takes to pay your bills.

Accounting 113

Accounting Contractors Banking Insurance 113

Construction Business Owner

FEBRUARY 16, 2012

INSURANCE |. 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.

Banking 120

Banking Construction Cash Flow Finance 120

Construction Equipment

MAY 25, 2018

Postal Inspection Service , Indiana States Attorney Josh Minkler has announced federal charges against six individuals, including a former regional construction project manager of a bank, who are alleged to have operated a multi-level scheme to defraud and embezzle over $8 million from a Pennsylvania-based bank and a Pennsylvania insurance company.

Banking 49

Banking Management Pennsylvania Indiana 49

Pro Builder

SEPTEMBER 21, 2021

Banks Consider Climate Change Risk for Home Loans. Banks are starting to calculate their risk exposure to climate catastrophes, and this process can be called “underwaterwriting” or “blue-lining,” depending on whether you’re looking at it from the point of view of the bank or consumer respectively. Tue, 09/21/2021 - 11:36.

Banking 52

Banking Risk Finance Comparison 52

Construction Marketing

JULY 21, 2016

Financial matters (bank accounts, taxation, insurance, collections). Protecting data and intellectual property. Employment law issues (employment contracts and policies, intellectual property, hiring and firing). Corporate record-keeping and compliance.

Legal 120

Legal Resource Agreement Employment 120

Pro Builder

DECEMBER 14, 2021

The Arizent survey’s mortgage industry respondents came from both nonbanks (29%) and banks (42%) and also included mortgage brokers (15%) mortgage insurance companies (7%), mortgage tech providers (5%) and government and title insurance professionals (2%). Market Data + Trends. Housing Markets. Market Data + Trends.

Insurance 105

Insurance Residential Banking Housing 105

ENR Construction

JANUARY 20, 2020

To make the projects more bankable, the hospitals and government contributed $279 million towards construction, which was “considerably more than was usual,” according to the auditors.

Banking 54

Banking Insurance Construction 54

Construction Marketing

JULY 30, 2019

The benefit of banking on such referrals is that their skills and experience have already passed the test of time. Consider Insurance and License. Besides that, if they are insured, you can be sure they will not become a liability in case they suffer an injury in the process of doing their job. Price and Warranty.

Contractors 120

Contractors Insurance Compensation Liability 120

Levelset

OCTOBER 13, 2022

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. A certificate of insurance (COI) is a valid form used to prove that you carry the appropriate insurance policy.

Insurance 52

Insurance Certification Contractors Liability 52

Construction Law

NOVEMBER 4, 2024

Project Bank Accounts and alliancing contracts are key measures that offer protection to the supply chain. Adjudication Adjudication and collateral warranties Doug Wass of Macfarlanes looks at the recent Supreme Court decision on whether collateral warranties are to be seen as construction contracts under the Construction Act.

Construction 40

Construction Insurance Contract Liability 40

Pro Builder

NOVEMBER 17, 2020

A Carolina home builder teamed up with an insurance expert to help builders figure out each step of their plan for when a worker gets injured. When that happens, there should be another plan in place. Read more to see what they suggest.

Compensation 76

Compensation Plans Accidents Insurance 76

Construction Lawyer

JULY 22, 2005

Watch for Bank Shield Laws in Dealing with Lenders. A developer found out the hard way about laws that shield banks. Thus, the bank won and the developer was left to deal with the subcontractors. Listed below are links to weblogs that reference Watch for Bank Shield Laws in Dealing with Lenders : Comments. Categories.

Banking 40

Banking Deals Illinois AIA 40

Construction Business Owner

MARCH 6, 2011

INSURANCE |. 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? STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology.

Construction 120

Construction Software Software Accounting 120

Carol Hagen

AUGUST 27, 2009

Hunter Hagan & Company, Ltd , CPAs sponsored an Avoiding Fraud seminar at First Western Trust Bank in Scottsdale that was packed with great advise, statistics and lessons learned. Your insurance agent may suggest you have all your accounting staff bonded to reduce the risk of hiring someone with past problems.

Inventory 100

Inventory Statistics Banking Risk 100

Construction Business Owner

FEBRUARY 23, 2012

INSURANCE |. For example, banks and other financial institutions put in stronger measures than many other industries. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety.

Security 120

Security Construction Software Software 120

Construction Equipment

MAY 25, 2018

Postal Inspection Service, Indiana States Attorney Josh Minkler has announced federal charges against six individuals, including a former regional construction project manager of a bank, who are alleged to have operated a multi-level scheme to defraud and embezzle over $8 million from a Pennsylvania-based bank and a Pennsylvania insurance company.

Management 49

Management Pennsylvania Banking Indiana 49

Green Building Law Update

JULY 24, 2016

The concept is not new, but nationally, residential PACE programs generally have been put on hold or foregone as a result of concerns of HUD and the Federal Home Loan Banks, that issued a directive in February 2011 to refrain from purchasing mortgage loans secured by properties with outstanding first lien PACE obligations.

Finance 120

Finance Lien Residential Commercial 120

Contractor Bookkeeping

AUGUST 16, 2013

Bank Balance - Un-cleared Checks) = Cash. Bank Account - Escrow Deposits. Bank Account - Operating. Bank Account - Job Deposits. Bank Account - Payroll. Bank Account - Operating. Bank Account - Petty Cash. Bank Account - Payroll. Bank Account - Petty Cash. Cash On Hand.

Work in Progress 70

Work in Progress Accounting Construction Leases 70

Contractor Bookkeeping

SEPTEMBER 27, 2013

You are a spec home builder in need of a construction draw and your bank or lender wants to see your latest financial reports and this time they want all of the current houses you are working on to be reflected in QuickBooks correctly as Work-In-Process (W.I.P.) Insurance Audit Support Service. Does this sound familiar?

Banking 50

Banking Change Orders Accounting Cash Flow 50

Levelset

OCTOBER 19, 2022

There are deadlines for invoice submissions for a monthly bank withdrawal. If the contractor doesn’t meet the deadline, the invoice might not be sent to the bank and paid until the following month. Lack of insurance coverage. In many circumstances, this reduces the turnaround time to 24 hours.

Contractors 98

Contractors Lien Finance Construction 98

Contractor Bookkeeping

SEPTEMBER 29, 2017

The primary keeper of all the documents is you, your spouse, your employees, your suppliers, your bank, your credit card company. General Liability Insurance Provider. I know this is not a statement that any contractor wants to hear about their bookkeeping. It is easier to blame the bookkeeper for missing information.

Profitability 59

Profitability Contractors Compensation Liability 59

Construction Business Owner

FEBRUARY 23, 2012

INSURANCE |. For example, I have a mobile banking app on my smartphone. With it, I can check my balance, see transactions, and transfer money, but I can’t apply for a loan on my phone like I can on the bank’s website. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management.

Software 120

Software Software Construction Mobility 120

Construction Business Owner

MARCH 29, 2012

INSURANCE |. Does an electrical raceway run through a duct bank? STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management. Green Building. Construction Safety. Compliance/Regulations. Sales/Marketing.

BIM 120

BIM Construction Software Software 120

Levelset

SEPTEMBER 16, 2022

If a contractor’s work fails after a project is complete, completed operations insurance can help cover some of the expenses. It is sold as an extension to your general liability insurance policy and may be required by the state you work in or the project owner. Learn more: The most common types of insurance policies in construction.

Insurance 52

Insurance Liability Claims Contractors 52

Pro Builder

DECEMBER 7, 2020

While there are several cyber risks to monitor, ransomware and business email compromise attacks are two of the most common challenges we see contractors faced within our roles at Sentry Insurance. What follows are more details about what these cyberattacks are and how you can protect your business. Ransomware.

Risk 92

Risk Construction Security Bidding 92

Construction Business Owner

JUNE 8, 2011

INSURANCE |. The trouble is that banks often don’t have the capital cushion to foreclose on large properties and take the hit against their lending limit. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management.

Construction 120

Construction Software Software Equity 120

Pro Builder

SEPTEMBER 8, 2021

Mortgage trusts, pensions, hedge funds, private-equity firms, investment banks and insurance companies all want so-called flip loans, drawn by yields in the range of 8% to 12% at a time when one-year Treasurys pay less than 0.1%. Mr. Stock’s lender, Roc360, last week received a $2 billion infusion from insurer Athene Holding Ltd.

Housing 52

Housing Inventory Insurance Equity 52

Construction Law

JUNE 1, 2021

Insurance companies can see what the outcomes are likely to be and this has helped drive insurance premiums beyond what some companies can afford. Some improvements would be made to payment practices by ending retentions and using Project Bank Accounts for example. As to what to do about the problems the Times had little to say.

Industrial 52

Industrial Insurance Banking Procurement 52

Pro Builder

SEPTEMBER 16, 2021

Eventually, however, a homeowner or bank could end up losing everything if a flood or other disaster destroys the house and makes the property unlivable. Over time, this risk will increase insurance rates and make it harder to get mortgages. “We We anticipate a rapid decline in valuation,” Keenan told CNBC. “We

Insurance 52

Insurance Miami Equity Renovating 52

Construction Business Owner

MAY 11, 2011

INSURANCE |. The trouble is that banks often don’t have the capital cushion to foreclose on large properties and take the hit against their lending limit. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law. People Management.

Construction 120

Construction Software Software Equity 120

Construction Business Owner

OCTOBER 14, 2011

INSURANCE |. But to count on them as the source of profit is to bank on an unpredictable variable that is not under your control, that is hard to manage, and that you may wish to use for a completely different purpose – business development (more on this in a moment). STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |.

Change Orders 120

Change Orders Construction Software Software 120

Contractor Bookkeeping

MAY 13, 2013

Insurance Audit Reporting. Insurance Audit Support (Business Consulting And Accounting Office). Bank Reconciliations. Schedule of Values - Spec Homes With Bank Draws. Schedule of Values - Spec Homes Without Bank Draws. Payroll Tax Reporting – 941. Payroll Tax Reporting - 940. Payroll Tax Reporting - 940.

Contractors 49

Contractors Leases Schedule Banking 49

Construction Law

AUGUST 5, 2024

CL guides Project Bank Accounts Our CL Guide comes from Ross Campbell of DLA Piper who explains how Project Bank Accounts are being used. Insurance Causation – Friend or Foe? Insurance expert John D Wright explains how the courts view the principles of construction and causation relating to disputes that come before them.

Construction 52

Construction Banking Insurance Safety 52

Contractor Bookkeeping

JUNE 13, 2012

They are referred to and reviewed over and over by banks and others. For Example - Income can be all of the deposits from bank statements which may have come from a single z-tape each day. One shortcut is downloading transactions directly from the bank. Do you write a paper check that is manually presented to the bank?

Accounting 48

Accounting Banking Profitability Income 48

Contractor Bookkeeping

DECEMBER 3, 2013

Connect your bank and PayPal feeds. We Can Convert The Following To Xero Accounting: Shoe Box Full Of Paperwork, Receipts And Bank Statements. Chart of Accounts Customer Checks Returned From Bank. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Liability.

Accounting 49

Accounting Washington Leases Insurance 49

Contractor Bookkeeping

AUGUST 27, 2014

Chart of Accounts Customer Checks Returned From Bank. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Health And Dental. Insurance Audit Reporting. Bank Reconciliations. Chart of Accounts Payroll Taxes.

Contractors 91

Contractors Accounting Work in Progress Profitability 91

Pro Builder

APRIL 20, 2021

Low-maintenance, a strong warranty and reduced long-term homeowner insurance rates all come into play when making a roof decision. However, this is not a ‘bust the bank’ product. From the selection of the roofing material to choosing the just-right color helps create long-lasting curb appeal.

Atlanta 98

Atlanta Remodeling Housing Products 98