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Change Order Management: How Proper Cost Tracking Protects Your Profit
Three weeks into a project, the owner requests a design modification. Your crew is already on-site, materials are ordered, and the schedule is locked in. You verbally agree to make the change to keep the project moving, figuring you'll sort out the paperwork later. Fast forward to billing time, and suddenly there's a dispute about what was agreed to, how much it should cost, and whether you're even entitled to payment for the extra work. This scenario plays out on constructio
Nov 128 min read
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Accounts Payable (AP) Process in Construction Accounting
Managing Accounts Payable (AP) in a construction company is a vital part of maintaining the company’s financial health and ensuring smooth project execution. Accounts payable in construction company refers to the money owed to suppliers, subcontractors, laborers, and other service providers for materials, labor costs, and general business expenses. Proper accounts payable management helps construction firms keep track of their payment records, avoid late payments, and mainta
Jun 1, 20203 min read
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