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
Good afternoon. We have a small interior project $700k; the owner want to deduct $115k from the original scope of work and add a new product that costs 135k. Question what is the correct formula for this deductive change order or dvise for a different formula.
$135-$115k = $20 + O&P(15%) = $23k
or
$135+O&P(15%)-$115k = $155-$115k = $40.25k
The new product will tke 12-14 additional weeks for delivery, pushing final completion of the project.
We greatly appreciate your advise.
FloridaIt is the practice of many GC's to back charge the same amount to multiple subs. We perform new construction cleaning of multi-family apartments. We generally are requested to re-clean an area, a building, or an apartment through a change order. For example, the change order to complete the work is $1,000 which we get paid when the work is completed. The GC then back charges the $1,000 plus a 15% administrative cost to all the subcontractors responsible for the extra cleaning. This amount could be many times the GC's actual cost. Is this practice common and proper? It appears to me that this is fraudulent. Shouldn't the back charge be divided among the subs responsible rather then each paying the entire cost of the back charge?
GeorgiaI didn’t send an invoice to get paid for remainder on a Construction project . Customer and I speak often... didn’t send final due to add ons outside of original scope of work... still waiting for impact door to come in that they originally did not want to do. I get a text today stating that because I didn’t send him the invoice yesterday, he’s considering himself paid in full and I being breach in contract. If I’m not mistaken, until I send final invoice then he has 14 days to pay my company... we are a residential licensed and insured general contractor in the state of Florida... and mind you the remainder is 80K... I am not desperate for money and don’t haggle my customers until I’m 100% complete... am I in the wrong here?
FloridaCan you give me some examples of payment schedules? like for jobs that are $50k and less? What are others doing out there? What do you think is best?
WashingtonWe are headquartered in Nashville, TN with business operations in Tennessee and Florida. I am CFO (glorified title) and new to the business and am not sure if we are being properly charged sales tax on our materials purchases or if we are required to charge any sales tax on our sales. We install new roofs, do re-roofs and roofing repairs. Many of our jobs include specialty roofing materials that are fabricated in our shop. It appears that we have never charged a customer any sales tax on our service jobs. I have also found that we have sold salvage/surplus roofing materials without charging sales tax.
TennesseeOur General Contractor previously offered in writing, verbally, and written on invoices delay credits AND offered in writing, verbally and on invoices covered expenses that accrued without our knowledge (and only being informed of after the fact of their completion). The relationship soured towards the end of the project and now he has generated a fraudulent invoice to include these fees, charges, and expenses that were previously in writing, verbally, and noted on invoices as being not part of the owed expenses for renovation. He has threatened a mechanic lien on residence. Do we have a case to prove intentional and willful fraud?
South CarolinaIs contingency added to the contract sum on the G702/703?
TexasI'm going to be installing flooring at a police station and I know my boss is required to submit certified payroll. Does this mean I should be getting paid prevailing wage? My boss told me i wouldn't be getting PW
AlaskaBehind in billing, invoice overlooked. Are they bound by Texas Prompt Pay regardless?
TexasWhen a subcontractor is submitting their information on certified payrolls. Do they need to include the address for their employees?
IndianaWhen should certified payrolls be given to the contractor your working for? So you pay your employees weekly and then send Certified Payroll when the project is done?
New Yorkdo I need to keep of copy of the WH-347 for my records from a subcontractor which I used on a job
New YorkWe are a General Contractor and the owner has disallowed The project manager's cost because under cost of work definition it states that home office personal are not considered under cost of work.
We followed the matrix for General conditions outlined in the specifications and gave a breakdown of the PM cost.
We believe that General Conditions are not to be considered as cost of work.
OregonBuilding construction how to calculate square feet price
IndianaHaving trouble deciding if I be considered employee or independent or a employee, and which would be best. Typically I would do things in my order, bid job for total cost, etc. Daily I was asked to do another " project. When the got the bid, they asked if we could do 2000.00 weekly.
Texas