article thumbnail

What is Project Loss Insurance?

Levelset

Project loss insurance has the potential to save contractors from devastating project losses, no matter the cause. Project loss insurance, or PLI, is designed to mitigate catastrophic construction project losses. Project loss insurance coverage. How project loss insurance works.

article thumbnail

Essential BIM Terminology

Viewpoint Construction Technology

It focuses on professional indemnity insurance issues. WIP is an acronym for “work in progress,” indicating an item is exactly that: a work in progress. A BIM execution plan manages the status, timeline, delivery, and completion of a project. CIC BIM Protocol. Clash Rendition.

BIM 189
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Bookkeeping Unique Features

Contractor Bookkeeping

Chart of Accounts Insurance Health And Dental. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Vehicles. Chart of Accounts Insurance Builders Risk. Chart of Accounts Insurance Health And Dental. Chart of Accounts Insurance Liability. Chart of Accounts Insurance Vehicles.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. In addition to workers not getting paid because the timecards weren’t submitted on time, his projects’ work-in-progress reports were inaccurate. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance. Construction Law.

Cash Flow 120
article thumbnail

Remodel Contractors Have Unique Bookkeeping Needs

Contractor Bookkeeping

Work In Progress (WIP) Reporting. Insurance Audit Support Service. Sales Tax Returns. Payroll Processing. Payroll Tax Returns, 941 and 940. Contractor Invoicing. Pay Application Invoicing For Remodel Projects. Pay Applications For Tenant Improvement Projects (TI). Retention Tracking System.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Or have you done extra work that wasn’t covered by a change order? In addition to monitoring your work in progress, study your estimating and profit histories. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. Software & Technology. Accounting & Finance.

article thumbnail

Unique QuickBooks Setup For Contractors

Contractor Bookkeeping

Chart of Accounts Work-In-Progress For Land Developers. Chart of Accounts Work-In-Progress For Land Development Into Lots. Chart of Accounts Work-In-Progress For Spec Builders. Chart of Accounts Work-In-Progress For Spec Home Into Rentals. Chart of Accounts Insurance Builders Risk.