Overbilling in Construction Bookkeeping
Overbilling happens when a contractor overstates the labor and/or material costs and bills their client more than what was originally agreed upon. Although this can occasionally be done inadvertently, some less respectable contractors will do this on purpose in the hopes that their client will fail to notice the inflated costs and fall victim to […]
Work In Progress (WIP): Guide for Construction Industry
Maintaining profits and keeping jobs on track is not easy in the construction industry. There are bills to pay, materials to order, teams to manage, and everything else in between. That’s why you need accurate, real-time Work in Progress (WIP) reports to keep projects running smoothly—and to grow your bottom-line profit. So, how does it […]
Construction Job Costing: How to Optimize It?
Construction job costing is a detailed pricing technique that examines all of the specific costs associated with each project to precisely compute project charges. By keeping an eye on the numerous little expenses that add up to a major construction project, this degree of specificity helps you improve budgeting and make more accurate bids for […]
