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Construction Accounting Questions
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Construction Accounting
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I'm looking for help to determine which types of interest payments are forgivable under PPP? It seems clear to me that mortgage interest is included as
forgivable. But, what about other types of interest? Specifically, interest on equipment debt? There is some language in the guidance about "int...Read More
Californiaforgivable. But, what about other types of interest? Specifically, interest on equipment debt? There is some language in the guidance about "int...Read More
Are union benefits forgiven with the PPP loan? If so, what is the limit?
MissouriI have a general contractor that needs a certified payroll for a job my company subcontracted. We subcontracted the install of the job. How do I report the
subcontractor's installation? Do I need to list his employees and what he paid each of them?
Texassubcontractor's installation? Do I need to list his employees and what he paid each of them?
A contract with an owner includes several line items which were approved by a pre-job schedule of values. One line item is for a small aspect, and the value
for that line was established in the contact to be $2980. The owner, without our knowledge, hired someone else to perform the work associated ...Read More
Indianafor that line was established in the contact to be $2980. The owner, without our knowledge, hired someone else to perform the work associated ...Read More
I am an owner who has a contract and a construction loan with a GC/Architect (GC is also the Architect), in which there is possible evidence of
misappropriation of my construction loan funds for the amount of $40,000 to date. Not only are funds possibly missing, but we have not received...Read More
Texasmisappropriation of my construction loan funds for the amount of $40,000 to date. Not only are funds possibly missing, but we have not received...Read More
How does an owner enforce the construction account and record keeping? Civil case or does AG pursue as a matter of consumer protection? The project is
not moving forward and the owner has half a built house and no progress.
Texasnot moving forward and the owner has half a built house and no progress.
We are a small limited liability company with only two members (partners). We do not have any employees. We pay ourselves, of course, but we pay
ourselves with "guaranteed payments," as opposed to standard W2 wages. We are looking at the PPP Act (CARES Act). Do our guaranteed pay...Read More
Californiaourselves with "guaranteed payments," as opposed to standard W2 wages. We are looking at the PPP Act (CARES Act). Do our guaranteed pay...Read More
Investigating a case in which a contractor has one construction account and is co-mingling funds from three different projects in the account. From what I
have read during my research, it is only "advisable" to have separate accounts for each project, not a "must have" or "legally have" an account f...Read More
Texashave read during my research, it is only "advisable" to have separate accounts for each project, not a "must have" or "legally have" an account f...Read More
We have a general contracting construction business. When we input our banking transactions, what category do we put our job materials that we charge the
clients for on each job? We have them as cost of goods sold, but we don't think that's correct. Can you please help? Thanks~
Oregonclients for on each job? We have them as cost of goods sold, but we don't think that's correct. Can you please help? Thanks~
I started working for a company that has been without a controller/accountant for a year. I have to back track now entries for the Completed construction
project. The A/P person just debited all payables in a WIP account that pertain to the jobs. (There is a job cost with each job separated with their ...Read More
Rhode Islandproject. The A/P person just debited all payables in a WIP account that pertain to the jobs. (There is a job cost with each job separated with their ...Read More
When determining total costs accumulated to date for WIP reporting purposes on a construction project, are actual cost or billed cost amounts used for the
total costs-to-date value in the calculation? My understanding is that using actual costs is appropriate since the use of billed costs erode profit w...Read More
Pennsylvaniatotal costs-to-date value in the calculation? My understanding is that using actual costs is appropriate since the use of billed costs erode profit w...Read More
I am the office manager for a general contractor Am I considered essential?
ArizonaI work at a Solar company and it’s family owned. We have a customer who is giving us the run around on payment. (Customer has paid 30%/100% total
contract price) Telling one person one thing, turn around and tell someone something totally different and sometimes no response what so ever. ...Read More
Californiacontract price) Telling one person one thing, turn around and tell someone something totally different and sometimes no response what so ever. ...Read More
We are a GC licensed to do work in Washington State, Oregon,Idaho, Texas, Arizona & California. This situation applies mostly to our Washington State &
Oregon jobs and subcontractors we have had perform work on jobs in those states. As of the last week or 2 we have received a considerable a...Read More
WashingtonOregon jobs and subcontractors we have had perform work on jobs in those states. As of the last week or 2 we have received a considerable a...Read More