Create or sign in to your account to view more questions
Log in or create an account to get access to the best parts of the Community
Sign upSign in instead
Explore the community
Are you a lawyer?
Join the only network built for the construction legal community.
Already part of the community? Login here
Related Topics
Construction Accounting Questions
All Status
Construction Accounting
All States
1.How does a construction company that builds and later sales houses on installments recognize its income? 2.Which type of Accounting software is idea for
this type of business for COA setup? Thank you and Waiting.
Californiathis type of business for COA setup? Thank you and Waiting.
Does it matter if I figure 25% overhead and 5% profit , compared to 10% profit and 15% overhead ? Is there a difference that will hurt my business ?
CaliforniaHello, I just recently built a house in Texas. To keep it simple, we found a contractor we liked and vetted and paid them to build our house. At the end of the
building, we were happy with the work they had done and payed the final installment. About 8 months later we are discussing with our CPA about...Read More
Texasbuilding, we were happy with the work they had done and payed the final installment. About 8 months later we are discussing with our CPA about...Read More
Hello. I’m closing on a home with an allowance from the seller to do work before I move inside. Under contract it says that the seller paid the money to
escrow to be disbursed by the attorney to the buyer. My impression is that the attorney will pay me the allowance at closing. What does this mean ?
Alabamaescrow to be disbursed by the attorney to the buyer. My impression is that the attorney will pay me the allowance at closing. What does this mean ?
I'am social work student, we have an project proposal on constructing an youth center but we didn't know how much the budgetary materials for that. The
youth center is about 70sq. Meter in for that we decide that 2room for office. Can you help me how much the budget for materials.
Californiayouth center is about 70sq. Meter in for that we decide that 2room for office. Can you help me how much the budget for materials.
I work for a GC. When it comes to allowances in the contract - would the client only get a change order to sign if the amount ends up being more than the
allowance already in the contract?
Arizonaallowance already in the contract?
so we (our company/not people) are buying out a company and we are creating another company but the same people who are selling us the company are
50% owners in the new company. They are under the impression that we (my brother and I) owe them 5 million and not the company. While we s...Read More
Illinois50% owners in the new company. They are under the impression that we (my brother and I) owe them 5 million and not the company. While we s...Read More
During the construction of substructure, the piling contractors had to self-isolate due to COVID for 2 weeks and there was a calibration issues with piling rigs
which caused a total delay of 4 weeks. Re-allocate the resources and make appropriate change to the project plan. Also, can you justify your choi...Read More
New Yorkwhich caused a total delay of 4 weeks. Re-allocate the resources and make appropriate change to the project plan. Also, can you justify your choi...Read More
My builder hired a substandard concrete contractor. They have been working on my home 6 months and foundation is still not finished. 1 to 3 workers show
up for 1 to 3 hours , 1 to 3 days per week. They have left trash on lot the entire time, dumped another 2 - 3 tons. Removed most after I raised sa...Read More
Missouriup for 1 to 3 hours , 1 to 3 days per week. They have left trash on lot the entire time, dumped another 2 - 3 tons. Removed most after I raised sa...Read More
Can my contractor retain my entire deposit and charge an additional $22K for “correspondence and 3 meetings” before a single nail has been hammered at
my property? I have not received, purchased or approved any materials from him b/c he tried to increase my contract by $66k prior to starting a...Read More
New Yorkmy property? I have not received, purchased or approved any materials from him b/c he tried to increase my contract by $66k prior to starting a...Read More
I am custom building a home. The lumber allowance for framing in the contract was $115,000. I just got an email from my builder that, due to lumber costs
increases, the actual cost came in $65,000 more than the allowance. The house is already framed. He did not come to me first to inquire if I wa...Read More
Tennesseeincreases, the actual cost came in $65,000 more than the allowance. The house is already framed. He did not come to me first to inquire if I wa...Read More
My boss is insisting that I post the WIP adjustment to each project. In my 25 years of experience in construction accounting I've never done that and I don't
believe it is standard practice. Could use your expert advice. Thanks!
Californiabelieve it is standard practice. Could use your expert advice. Thanks!
We are a GC in Arizona. We received a conditional certificate of completion and a letter of compliance both from the city. Do these documents shorten my
lien rights to 60 days? Also I notice the laws state the deadline begins after "completion of the project as a whole". Both the conditional certificat...Read More
Arizonalien rights to 60 days? Also I notice the laws state the deadline begins after "completion of the project as a whole". Both the conditional certificat...Read More
Hi, I am working on a possibly building a new digital printing and periodical publishing center in the Motor Row District of Chicago, IL USA in an Opportunity
Zone. Ideally the new structure will be 2-story, 10,000sf total divided over the two floors. With that in mind, I am curious how do I get a guestima...Read More
IllinoisZone. Ideally the new structure will be 2-story, 10,000sf total divided over the two floors. With that in mind, I am curious how do I get a guestima...Read More