On construction projects where prevailing wage laws apply, it’s important to abide by those rules. In Pennsylvania, publicly funded projects over $25,000 in costs are subject to prevailing wage requirements. Let’s explore Pennsylvania’s prevailing wage laws, how and when they
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Design & Development: Understanding the First Phase of a Construction Project
From the time that a construction project goes from an idea to a finished building, it has to go through several phases. Each phase has its purpose and is just as important as the next. One of these stages,
Recording & Tracking Retainage Receivable: QuickBooks for Contractors
There are a lot of things that are different about construction accounting, but retainage may be one of the most unique. These amounts withheld from project payments can be a challenge, since they often account for a contractor’s entire profit
Managing Accounts Receivable in QB: QuickBooks for Contractors
The construction industry runs on credit. Contracts are almost never paid up front, so contractors provide labor, materials, and equipment on credit with their customers. As a result, every construction business records transactions to Accounts Receivable (A/R) until they actually
Setting Up the Chart of Accounts: QuickBooks for Contractors
Whenever you invoice a property owner, receive a check from a customer, or pay a material supplier, you need to categorize those transactions properly. The Chart of Accounts is the heart of every contractor’s accounting system, whether you’re using QuickBooks
Pre-Construction: How it Works & Why it Matters
Before a construction project can begin, there is a lot of planning, number-crunching, designing, and scheduling that needs to occur. The bulk of all this planning occurs during the pre-construction phase, and this one phase can set the tone for
The Preconstruction Phase: Understanding the Process & Risks
Before a construction project can begin, there is a lot of planning, number-crunching, designing, and scheduling that needs to occur. The bulk of all this planning occurs during the preconstruction phase, and this one phase can set the tone for
Best of 2022: Top Construction Lawyers in Kansas City
There are many different fields of law for the same reason that there are different fields of medicine. The practice of construction law requires specific knowledge of the building industry and the rights and responsibilities of each party on a
Best of 2022: Top Construction Lawyers in Detroit
The construction industry is the sum of its parts—experts from every trade come together on a project to bring it to completion. In many ways, construction law is the same. It’s made up of many different specialties in order to
Damages for Defects: 3 Ways Contractors Can Reduce Liability
No matter the delivery method, contractors and subcontractors spend countless hours (and dollars) interpreting and executing a project’s specifications before and during the construction process. At the conclusion of the project, contractors or owners may uncover construction defects of varying