AIA billing has remained a construction industry standard for over a century. They bring a reliable, organized, and standardized system, providing clear directions for contractors. However, as any contractor using this method knows, it requires… Read More »How to add sales tax to AIA billing
Continuation sheets, such as the AIA G703 form, provide key pieces of information on each item of work that general contractors and project owners use to monitor the progress of that job. At a glance,… Read More »How to fill out an AIA G703 continuation sheet
Tax time is always a little painful for business owners—even more so when you end up saddled with a large tax bill. Fortunately, maximizing your tax deductions is one of the best ways that you… Read More »4 tax deductions construction business owners overlook
Everybody looks forward to payday. It’s a time-honored agreement between employer and employee that exchanges honest work for honest pay. However, payroll is more than cutting a check to your employees every two weeks. Payroll… Read More »Construction payroll 101: A beginner’s guide for contractors
Tax planning is an essential process for construction business owners—it’s equally as important as other priorities like job costing, scheduling work, and running payroll. But taxes can also feel daunting for non-experts, which means they… Read More »4 common tax planning mistakes in construction (and how to avoid them)
Construction accounting is unique from any other industry. It requires specialized skills and knowledge that traditional accounting rarely dips into such as work-in-progress (WIP) and retainage. The key difference, however, is that construction accounting requires… Read More »Construction accounting methods 101: Accrual, cash basis, and revenue recognition
Retainage is the practice of temporarily withholding payment from a contractor for work performed. Project owners use retainage to mitigate risk by setting aside a portion of payments (5-10%) should the contractor default or fail… Read More »What is retainage? Everything a contractor needs to know
Job costing is central to construction accounting for its ability to track and allocate all associated costs for a specific job. When done right, it’s a powerful tool for understanding job-level profitability and is key… Read More »Best job costing app integrations for QuickBooks Online
Starting your own contracting business is an exhilarating experience. It brings a rush of excitement, optimism, and a healthy dose of uncertainty about the future. While much can be learned on the job through trial… Read More »What is labor burden? How to calculate your true payroll costs
No contractor gets into the business for the love of admin work. After burning the midnight oil for the fourth time this week, managing payroll, tax filing, invoicing, and organizing, you have to wonder if… Read More »Best QuickBooks version for construction contractors