Bookkeeping

Accounting For Construction In Progress Explained

A firm’s CIP balance also reflects the sum of all the invoices from subcontractors, material suppliers and equipment providers that are billed indirectly through the general contractor. Construction accounting is not just tracking accounts payable, receivable, and payroll. Unlike other businesses, construction companies have to manage other anomalies like job costing, retention, progress billings, change

Accounting For Construction In Progress Explained Read More »