An infusion of federal infrastructure funding through the American Recovery and Reinvestment Act requires contractors using QuickBooks to submit of certified payroll reports Continue reading
The construction industry has some very specific bookkeeping and accounting requirements. In addition to Payroll, Accounts Receivable, and Accounts Payable functions, they need to be able to have systems to handle Estimating, Job Costing, Overhead, Billing and/or Invoicing, Project Management, Scheduling, and Customer Management - just to name a few. Continue reading
No two contractors will have the EXACT same need for functionality OR use the exact same cost coding system for billing. So don't let anyone tell you that every contractor uses a specific Chart of Accounts or Cost Coding system. Continue reading
Four in ten (42%) non-contractors have started pursuing federal contracting only recently, having registered on the CCR (a necessary first step in the federal procurement process) in 2008 or later. Thus, many of them will become successful – if they keep bidding – over the next year. Continue reading
The economic-stimulus package requires that workers on projects funded by the package receive "prevailing wages." Prevailing wages are similar to union wages and are typically higher than average wages in a county. The provision concerns some contractors who say it will drive up the cost of stimulus projects. However, labor groups support the prevailing wage provision and say higher wages will help the economy. Prevailing wage provisions require the submission of certified payroll reports. Continue reading
